Etihad Posts Record Results For Second Quarter And First Half Of 2013

Etihad Airways recently announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations.

The national carrier of the United Arab Emirates achieved an eight percent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 percent.

Revenue generated by codeshare and equity alliance airline partners was US $184 million in Q2 2013. This was 25 percent above the US $147 million turnover in the same period of 2012. Partnership revenue comprised 20 percent of the airline’s total passenger revenue in both Q2 and the first half of 2013.

According to the president and Chief Executive Officer of Etihad Airways, James Hogan, the company’s Q2 and half-year results were achieved despite the continuation of unsteady economic and geopolitical factors, with air fare yields slightly lower for the quarter, compressed by strong competitive capacity growth and resultant price competition.

“This reflects not only the continuing popularity of our Abu Dhabi hub, but the growing maturity of our airline partnership strategy and the strength of our cargo operations, which continue to well exceed industry growth rates,” Mr. Hogan said.