Etihad Airways today 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 per cent increase in quarter two 2013 passenger revenues, generating US $921 million, while passenger revenues for the first half of 2013 reached US $1.8 billion, up by 13 per cent.
Revenue generated by codeshare and equity alliance airline partners was US $184 million in quarter two 2013.
This was 25 per cent above the US $147 million turnover in the same period of 2012.
Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both quarter two and the first half of 2013.
Etihad Airways chief executive James Hogan, said the company’s 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.
“Despite the tough global trading climate, we have still achieved record, double digit growth in both quarter two and the first half of 2013,” Hogan said.
“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.”
Hogan said a significant achievement in quarter two was the improved contribution of the Etihad Airways equity alliance partners, in particular Germany’s airberlin, which has become the largest codeshare contributor.
This reflects increased connectivity between the integrated networks of the two airlines.
This growth was achieved through the delivery of two new Boeing 777-300 passenger aircraft – a three-class version seating 328 passengers and a two-class model seating 380 - and a corresponding increase in flights, including new services to Amsterdam, Sao Paulo and Belgrade.
Etihad is considered the World’s Leading Airline by the World Travel Awards.