ETIHAD AIRWAYS REPORTS 29.2% RISE IN REVENUE

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By TESTCustomwebLP TESTCustomwebLP January 13, 2011 20:42

ETIHAD AIRWAYS REPORTS 29.2% RISE IN REVENUE

Etihad Airways has reported a 29.2% increase in revenue for 2010 to $2.95 billion on the back of a 19.5% increase in capacity to 45.1 billion ASKs and 13.1% growth in passengers carried to 7.1 million.

The airline confirmed that it achieved a positive EBITDAR for the full year for the first time since its inception back in 2003 although figures are yet to be released, if at all. Etihad reiterated that it expects to be in the black in both 2011 and 2012.

Etihad CEO, James Hogan said the outlook for 2011 was “strong” with operating conditions continuing to improve. “We are seeing a growing confidence in many of our international markets.” In line with most other airlines it is premium travelers that are providing the up swing, for Etihad the premium travelers are returning, particularly on trunk routes into Europe, Asia and Australia. No doubt the latter is benefiting from the Virgin Blue alliance.

RPKs rose 20.1% to 33.4 billion with load factor inching up 0.5 points, to 74%. Cargo revenue rose 57.4%.

During the year Etihad cut costs by more than $320 million.

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By TESTCustomwebLP TESTCustomwebLP January 13, 2011 20:42
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