Etihad Airways major profit increase

first_imgEtihad Airways has posted a stellar 48 per cent profit increase, according to its 2013 financial results. The airline’s profit reached $US62 million in 2013. Revenue was also up by 27 per cent to $US 6.5 billion. The results herald the third year of net profitability for the airline. In addition, passenger numbers increased by 12 per cent to 11.5 million while revenue passenger kilometres (the measure of revenue raised from passenger journeys) was up 16 per cent to 55.5 billion. “This is another important step forward in our journey as a growing, commercially successful business, James Hogan president and chief executive officer said. A key reason for Etihad’s consistent profitability is its partnership strategy, which has allowed Etihad to carry more passengers on more routes and gain strategic equity stakes in smaller airlines.center_img In 2014, Etihad Airways plans to introduce 18 new aircraft, including its first 787-9 Boeing Dreamliner and Airbus 380 Super Jumbo.  “We have hit every financial target for each of the last seven years, bringing sustainable profitability to a business which has grown from just US$300 million in revenues in 2005 to more than US$6 billion today.” Source = ETB News: T.N.last_img