São Paulo – Etihad Airways announced on Monday (4) that it made US$ 42 million in 2012, growth of 200% over the US$ 14 million of 2011. Revenues of the airline from Abu Dhabi reached US$ 4.8 billion, growth of 17% over the US$ 4.1 billion recorded in the previous year. Etihad, which was established in 2003, also announced that the volume of passengers transported grew 23% and reached 10.3 million people last year.
The chairman and CEO at the company, James Hogan, stated that in 2012 the company presented its second profit running. “We have delivered improved net profit, the second consecutive year we have been in the black, a remarkable achievement given the youth, ambitious growth and on-going investment made by this airline in a challenging global economic environment,” he said. He also pointed out the good Etihad performance in the development and growth of Abu Dhabi.
The company attributed the growth in revenues and profits to the partnerships and participation it has with other airlines. These partnerships were responsible for US$ 600 million growth in Etihad revenues, which also owns 40% of Air Seychelles, in the Seychelles; 29.21% of Airberlin, from Germany; 9% of Virgin Australia; and 2.9% of Aer Lingus, from Ireland.
According to the company, participation in these enterprises and codeshare operations resulted in growth of 1.2 million passengers on company flights in 2012. Of this total, 300,000 passengers shared the Etihad routes with those of Airberlin, which resulted in growth of US$ 130 million for both companies.
The Etihad results also presented growth of 16% in the company’s Ebitda, which represents earnings before interest, tax, depreciation and amortization. In 2012, the company’s Ebitda was US$ 753 million. One year before, it was US$ 648 million. The total number of employees reached 10,600, growth of 18% over 2011 and the volume of cargo transported by the Etihad CrystalCargo division rose from 310,100 tonnes in 2011 to 367,800 in 2012.
The company’s fleet also rose, from 64 in 2011 to 70 last year. This year Etihad should receive another 14 aircraft, three for cargo and 11 for passengers. These aircraft will be used in expansion of the company’s lines. One of these new routes, to start being operated on June 1st, should link Abu Dhabi to São Paulo.
*Translated by Mark Ament
