São Paulo – The United Arab Emirates-based Etihad Airways posted a 19% increase in revenues in the third quarter this year as against the same period last year, at US$ 1.3 billion. The figure was an all-time high and according to information released by the company, was mostly due to increased number of passengers transported, which went from 2.27 million people from July to September 2011 to 2.79 million in the same period of 2012.
Etihad posted a 23% increase in passenger number. Occupancy rate stood at 81.2%, the highest for the quarter in the company’s history. The company claims the increase in passenger revenues was boosted by codeshare agreement and partnerships. Earnings generated by this type of agreement went from US$ 121 million to US$ 182 million in the quarter, up 51%.
The company currently has 38 partners. Codeshare operations with airberlin, in which Etihad owns a stake, generated US$ 51 million year-to-date. By means of these types of deals, the company transported over 150,000 passengers in 2012. The company has agreements with and owns stakes in other companies, such as Air Seychelles and Virgin Australia. Earnings generated by codeshare partners accounted for 18% of Etihad Airways’ total passenger revenues during the quarter.
A statement released by the company’s press office cites new flights created in the last quarter, such as daily flights to Lagos, in Nigeria, and forecasts of new routes to Ahmedabad, in India, Addis Ababa, in Ethiopia, and Washington, in the United States, São Paulo, in Brazil, and Ho Chi Minh, in Vietnam.
The growth will be supported by the delivery of three new aircraft in the coming three months, two Airbus A320 and one Boeing 777-300ER. Another 14 will be delivered in 2013: six Boeing 777-300ERs, five Airbus A320/A321s, two Boeing 777 freighters and one Airbus A330 freighter. Etihad flies to 315 destinations and, according to the company itself, serves largest number of destinations among Middle East companies.
*Translated by Gabriel Pomerancblum
