Etihad Airways sales climb 28% in first quarter

MANILA, Philippines - Etihad Airways continued its industry-leading growth in the first quarter of 2012, with a 28 percent rise in revenue to $ 989 million over the corresponding period in 2011 and passenger numbers soaring by 500,000 to 2.4 million.

Etihad Airways president and CEO James Hogan said: “We met all our revenue targets and budget estimates in the first quarter, despite the challenging economic conditions confronting the international community.

“Despite the tough economic times we believe our business model of organic network growth combined with codeshare partnerships and strategic equity investments will enable us to continue to prosper and ensure sustainable profitability,” Hogan said.

The record results were announced as Hogan unveiled plans for a significant expansion of the airline’s global network over the next 18 months.

These included a daily service to Etihad Airways’ first South America destination and a new service to Vietnam. Hogan said the South American flights would begin mid next year with details of the first destination now being finalized.

“This a logical next step for us and will mark the sixth continent we serve and our coming of age as a truly global airline,” he said.

Etihad Airways also planned to replicate the success of its European expansion by introducing additional frequencies to a range of other destinations in Asia and Australia.

Hogan said: “We continue to outperform much of the global airline industry, with spectacular growth in revenue, the number of passengers flown and freight carried. Our expanded network through organic growth and partnerships has reached a critical mass that is now powering our business forward. Our seat factor hit a record high but yields, particularly in the premium cabins, remain a challenge.”

Already in the first quarter of 2012 Etihad Airways has announced the launch of non-stop daily flights to Washington, D.C., begun flights to Tripoli, Shanghai and Nairobi, and will soon start services to Basra and Lagos, as well as increase flight frequencies to Düsseldorf, Bangkok, Cairo, Kuwait, and Dammam. Extra capacity will also be added to London Heathrow and Kuala Lumpur. The national airline of the United Arab Emirates now has a worldwide network that stretches across 84 cities in 54 countries.

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