Sunday, February 3, 2013

Etihad profits again!

The world’s fastest growing commercial airline, Etihad Airways, has announced some outstanding financial results today, just weeks before it progresses further into the future with its new website and booking engine. Announcing a US$42 million profit in 2012, Etihad has seen a 200% increase on 2011, explaining innovative thinking and outstanding service has been a key contributor to the airline’s success.
During 2012, Etihad saw a 17 per cent increase in revenue to US$4.8 billion with a 23 per cent passenger increase to 10.3 million, the airlines best result to date. Rather than joining an alliance, the airline has grown its own network of codeshare partners and destinations, including Amsterdam and Hong Kong, allowing it to compete with older competitors like Emirates and Qatar Airways. 2012 saw Etihad join forces with 12 new codeshare partners, increasing its shared network to 334 destinations worldwide.

 Etihad CEO, James Hogan, said “We have delivered improved net profit, the second consecutive year we have been in the black, a remarkable achievement given the youth, ambitious growth and ongoing investment made by this airline in a challenging global economic environment.” “We have taken great strides in building the industry's first 'equity alliance', with our investments in airberlin, Air Seychelles, Virgin Australia and Aer Lingus, which are contributing significant value to our business.”

Key points in Etihad’s 2012 timeline include: 
- Took a 40% stake in Air Seychelles in January 2012
- Began flights to six new destinations - Tripoli, Shanghai, Nairobi, Lagos, Ahmedabad and Basra, throughout the year
- Invested just under 3% in Aer Lingus
- Took an equity stake in Virgin Australia- Named ‘World’s Leading Airline’ at the World Travel Awards
- Launched ‘Wi-Fly’ the airline’s new inflight wi-fi service onboard  

On 23rd February, Etihad will switch over to its new booking system and website, showing that Etihad is investing heavily in its future growth. Added to this, the launch of Etihad’s new North American route to Washington on 31st March, which shows that the airline’s growth shows no sign of slowing down. Washington, Amsterdam, Sao Paulo and Ho Chi Minh City are all brand new destinations for Etihad Airways this year and it is expected to announce further routes during 2013.

“I am proud of our success and the enormous effort and achievements of every person working at Etihad Airways,” Mr Hogan said.

Further details can be found on the Etihad Airways website