São Paulo – The profit of Etihad Airways grew 48% in 2013 and has reached US$ 62 mn. The income of the airline company of Abu Dhabi was US$ 6.1 bn last year, 27% higher than in 2012. The revenue was posted this week by the company. <\/p>\n
“We have hit every financial target for each of the last seven years, bringing sustainable profitability to a business which has grown from just $300 million in revenues in 2005 to more than $6 billion today”, said James Hogan, president and CEO of Etihad, according to a statement from the company.<\/p>\n
Hogan claims that positive results are due to a strategy that combined organic growth, partnerships and minority stake investments in other airline companies which are strategically important. <\/p>\n
“We are particularly pleased to deliver a return for our shareholder, while also playing a major role in the development of trade and tourism within the emirate of Abu Dhabi,” the executive points out.<\/p>\n
The number of passengers also grew in 2013, summing up a total of 11.5 mn, an increase of 12% over 2012. Last year, Etihad included six new destinations in their routes, including São Paulo, besides increasing the capability of the 18 existing routes.<\/p>\n
Codeshare agreements allowed Etihad to have the biggest route network among Middle East airlines, with almost 400 destinations. The income of these flights amounted to US$ 820 mn last year, representing 21% of the company’s total passenger revenues.<\/p>\n
The cargo division of the company presented a 30% growth in income, amounting to US$ 928 mn, with 486.753 in tonnes of weight transported. "We have identified cargo as a major growth opportunity for Etihad Airways and its partners, and this will be a billion dollar business in 2014,” Hogan said, according to the statement. <\/p>\n
*Translated by Rodrigo Mendonça <\/strong><\/p>\n