Etihad Posts Record Q2, H1 Revenues

Etihad Airways has posted record revenue figures for its second quarter and half-year financial results, thanks in part to its code sharing deals and equity alliance partnerships.

The Abu Dhabi carrier reported $921 million in passenger revenue for Q2, an eight per cent rise on the previous year’s figure of $855 million, while the airline’s half-year performance rose 13 per cent to $1.8 billion.

Announcing its results on Monday, Etihad attributed 20 per cent of its passenger revenue for the two periods to its partnership revenue schemes while its codeshare and equity alliance partners accounted for $184 million of its Q2 performance, up 25 per cent on the same period last year.

“Despite the tough global trading climate, we have still achieved record, double digit growth in both Q2 and the first half of 2013,” said James Hogan, president and CEO of Etihad.

“This reflects not only the continuing popularity of our Abu Dhabi hub, but the growing maturity of our airline partnership strategy and the strength of our cargo operations, which continue to well exceed industry growth rates.”

Much of the financial boost received from its equity alliance partners was attributed to airberlin – the German carrier is Etihad’s largest codeshare contributor, with the UAE airline owning a majority stake in its frequent flyer programme.

The Abu Dhabi airline grew its fleet and network in the second quarter with the arrival of two Boeing 777-300 aircrafts and an increase in flights to Amsterdam, Sao Paulo and Belgrade as well as a new destination in Washington, D.C.