News

Etihad Records Profit for Second Year Running

Etihad Records Profit for Second Year Running

Etihad Airways was profitable again in 2012. The airline’s President and Chief Executive, James Hogan, made the announcement during his keynote address at the Global Airfinance Conference in Dublin.

The 2012 result follows Etihad’s maiden profit in 2011 of US$14 million. During his speech to more than 1,000 delegates, James Hogan added that more details of the airline’s financial results would be released next month.

James Hogan, Etihad Airways

The 15th annual Global Airfinance Conference includes delegates from the world’s largest airlines, leasing companies, commercial banks, export credit agencies, private equity firms, investment banks, manufacturers, law firms and other aircraft financing organisations.

James Hogan also explained to delegates how Etihad’s focus on cost control and the creation of value and scale had helped drive its impressive expansion.

He spoke of the airline’s strong financial portfolio with more than $6.5 billion in funding from more than 50 financial institutions across the world, and gave details of how major financial market risks are managed. These include fuel, foreign currencies, interest rates and emissions.

Etihad Airways’ funding is derived from more than 50 lenders and lessors from local, regional and global sources. He said there would be a continued focus on diverse sources, focus on residual value risk, as well as the importance of key relationships with financial institutions.

“Etihad Airways has achieved double-digit passenger and revenue growth in recent years and established world-class product and service,” he said. “This could not have been achieved without the airline earning the confidence of the leading global financial institutions.

“We are set to post our second successive profit, which is rare in the current uncertain economic climate and illustrates the impact and success that the Etihad Airways unique business model has made.”

He added that Etihad Airways has identified a new route to global expansion, allowing it to accelerate even further its development as an airline and as a business.

This includes organic fleet and network growth, wide-ranging codeshares, and strategic equity partnerships. These all come together to create a virtuous circle of growth opportunities for the airline and its partners.

Etihad Airways carried more than 215,000 passengers between Abu Dhabi and Dublin in 2012, with the route once again in the airline’s top 10 most popular.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 50 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 40 years.

More in News

WOW air

WOW air Announces €129.99 Flights from Ireland to Four New US Destinations

Neil SteedmanAugust 23, 2017
HAL+RM Featured Image

American Holidays Team Wins HAL+RM Quiz Night

Neil SteedmanAugust 22, 2017
united-b737-900er

Martina to Be New Manager Ireland for United Airlines

Neil SteedmanAugust 22, 2017
Qatar Visa Waivers

Qatar Waives Entry Visa Requirements for 
Citizens of 80 Countries

Neil SteedmanAugust 22, 2017
World Travel Market 2016 at ExCeL, London.
Italy

WTM London 2017 Premier Partner is Italy

Neil SteedmanAugust 22, 2017
Irish Ferries Three Ships

Irish Ferries Joins Travel Partners Group

Neil SteedmanAugust 22, 2017
Travel Trade Deals, Sarah Slattery, Irish Travel Trade News

Great Value Travel Deals – 22nd August 2017

Sarah SlatteryAugust 22, 2017
Finnair eNews Story 5

Japan for Less with Finnair Special Sale Fares

Neil SteedmanAugust 22, 2017
Airberlin

Airberlin Files for Administration After Etihad Declines Further Funding

Neil SteedmanAugust 22, 2017

Copyright © 2016 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland