Etihad posts record results
Athens carrier bucks market trends
Etihad Airways announced a 31 per cent increase last week in its April to June 2012 revenues of US$1.25 billion, contributing to a first half 2012 increase in revenues of 30 per cent to US$2.24 billion.
The airline's passenger numbers increased to 2.55 million, up 34 per cent, and to 4.89 million in the half year.
With the suspension by Singapore Airlines and Thai Airways of services to Athens because of weak demand, Etihad is one of the few carriers that remains offering passengers from Australia a one-stop service to the Greek capital.
Earlier this year Etihad took a minority equity stake in Virgin Australia and its latest results have been boosted by the airline's development of strategic partnerships, which fed 800,000 passengers into its network in the last six months.
James Hogan, President and CEO of Etihad Airways said: "These results are an endorsement of our strategy, which has seen us widen and deepen our partnerships in addition to continued focus on our organic growth plan.
"In a quarter when many airlines have seen demand softening, we have been able to add more passengers than ever before, with growth outstripping our capacity increases."
Last month the International Air Transport Association (IATA) reported the recent fall in oil prices had been "offset by the continued and deepening European sovereign debt crisis which had led markets to expect a further deterioration and damage to economic growth."
Mr Hogan said the airline was on track for a successful full year performance, despite the challenging market conditions.
"Our strategies allow us to drive quality revenue and we remain focused and on track to deliver profitability for the full year, for the second year running."
Etihad's record-breaking results come as the airline celebrates winning the 'Top Operational Excellence Award' for its fleet of Airbus A340 aircraft, an award bestowed by Airbus. Etihad operates a fleet of four Airbus A340-500s and seven A340-600s.
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