|10-14-2014, 02:46 PM||#1|
Etihad Q3 revenues increase by 29%
Etihad Airways reported a 29% increase in revenues to 6.6 billion dirhams ($1.8 billion) for the third quarter this year as a result of accelerated passenger and cargo growth in this summer season.
Almost 3.9 million passengers travelled with the Abu Dhabi-based airways this year, between the month of July and September, which is 30 percent higher than the same period last year that accounted for only three million passengers.
Etihad Airways faced faster growth in passenger demand this summer and received three additional aircraft during the third quarter launching flights to Yervan, Paris and Rome.
Etihad Cargo carried within the third quarter only 144,498 tonnes of shipments and mail, which represents a 9 percent year-on-year increase and suggests that airlines outperformed the global market.
James Hogan, President and CEO of Etihad Airways, said “our focus on organic growth, codeshare partnerships and minority investments in other airlines has continued to produce strong results.”
On the other hand, Hogan believes the airlines will sustain the profitability target this year “despite the prevalence of industry challenges such as volatile oil prices, economic and political instability, overcapacity in the market, and access constraints.
Etihad Airways also enhanced during the third quarter its workforce grew by 22,886 employees, pointing to stronger revenues in the fourth quarter and ongoing expansion of the airlines on a global scale.
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