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July 24, 2017

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Abu Dhabi's Etihad Airways sees Q3 revenue fly up 19% to US$1.3 billion

ABU DHABI--Abu Dhabi's carrier, Etihad Airways, said Sunday it posted a 19-percent increase in revenues in the third quarter of 2012, but it remained tightlipped on profit.

The government-owned airline said its revenues in the three-month period hit US$1.3 billion, 19 percent up from US$1.1 billion registered in the corresponding period last year.

The rise reflected a 23 percent surge in passenger numbers to 2.79 million travellers, said Etihad in a statement, adding that passenger numbers were on track to exceed the 10 million milestone this year.

Etihad, however, did not disclose its profit, saying only that it was "confident of full year profitability despite challenging global economic environment."

Etihad in February announced for the first time since its launch in 2003 that it exceeded its target of breaking even, posting a net profit of US$14 million in 2011.

Last month, Etihad's chief James Hogan said his company was projecting US$5 billion in revenues in 2012, up from US$4.1 billion last year, and hoped to sustain profitability.

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