São Paulo – In quarter one this year Etihad Airways posted its highest-ever revenues for the period. According to January-to-March results released last Sunday (7th), passenger revenues were up 19% from the same period last year, to US$ 900 million. Cargo revenues were up 17% to US$ 193 million.
According to a press release from the company, Etihad carried 2.7 million passengers in quarter one, up 18% from 2.3 million from January to March 2012. According to Etihad, aircraft occupancy rates averaged at 80.5%. From January to March 2012 the rate was 76.5%. Etihad has not disclosed the profits or losses it had during the period.
The company’s president and CEO, James Hogan, said Etihad has “again” surpassed global performance levels. “Our Q1 2013 results have again outstripped global trends, with our strongest ever first quarter results for passenger revenue,” he said.
According to Hogan, the figures show that Etihad’s organic growth strategy, focusing on partnerships and investment, is delivering for the company. Founded ten years ago in Abu Dhabi, the airline has partnerships with Air Lingus, Air Seychelles, Virgin Australia and Airberlin, of which it is the majority stakeholder. Partnership revenues were up 34% from US$ 136 million in Q1, 2012 to US$ 182 million in Q1 this year, and accounted for 20% of overall passenger revenues.
According to Hogan, the good results in codeshare operations, by which companies carry one another’s passengers, stemmed from the fact that all of the partnering airlines announced “profitable results” in Q1, 2013.
In cargo transport, Etihad moved 101,776 tonnes, up 20% from 85,152 tonnes in Q1 2012. During the same period, transport capacity was up 19%. According to Etihad, the result was driven by strong performance in Northeast Asia and the Indian Subcontinent. The airline also announced that its two new weekly flights to Houston, United States, and two new aircraft delivered by Boeing have contributed to increase the volume of cargo carried and the revenue results.
Etihad will start flying to Brazil, with daily, direct flights between Abu Dhabi and São Paulo, on June 1st.
*Translated by Gabriel Pomerancblum
