São Paulo – Etihad Airways, the airline from Abu Dhabi, United Arab Emirates, has announced this Tuesday (14th) that it posted revenues of US$ 1.8 billion in quarter three this year, up 29% from the comparable period in 2013. According to a press release from the company, the performance owed itself to a “sharp” increase in passenger numbers and cargo volumes during the summer season in the Northern Hemisphere.
Etihad has informed that 3.9 million passengers boarded its flights from July through September, up 30% from quarter three 2013. The airline moved 144,500 tonnes of cargo, including mail, up 9%.
According to the airline, passenger and cargo growth outstripped its fleet’s capacity increase during the period. Cargo capacity, for instance, only increased by 1% as against July to September 2013.
Year-to-date through September, the airline carried 10.5 million passengers and 415,000 tonnes of cargo. According to the press release, Etihad is on track to post its best-ever annual results this year.
In quarter three, the company launched routes from Abu Dhabi to Yerevan, in Armenia, Perth, in Australia, and Rome, and increased flight frequency to eight destinations, including Dublin, Ireland, Athens, Greece and Chennai, India. The airline’s network comprises 110 routes in operation or pending inauguration, including a daily flight between São Paulo and the Emirati capital.
Etihad has also reported that in addition to “organic growth,” the performance was strengthened by codeshare agreements and minority investments. According to the press release, these partnerships added roughly 1.1 million passengers to the Arab company’s flights, up 41% from quarter three 2013, and US$ 352 million to its revenues.
In August this year, Etihad announced the purchase of a 49% stake in Alitalia, an operation still pending approval from regulators. The airline also owns stakes in Air Seychelles, Virgin Australia, Aer Lingus (Ireland), Air Serbia, Jet Airways (India) and in Germany’s Airberlin. Etihad has a fleet of 105 aircraft and employs nearly 23,000 people.
“Our focus on organic growth, codeshare partnerships and minority investments in other airlines has continued to produce strong results, despite the prevalence of industry challenges such as volatile oil prices, economic and political instability, overcapacity in the market, and access constraints,” said Etihad president and chief executive James Hogan.
*Translated by Gabriel Pomerancblum