Etihad Q2 Revenue Up 31%

Etihad Airways has announced revenues for the second quarter rose 31 per cent compared to Q2 last year to $1.25 billion, partly in thanks to a 34 per cent rise in passenger numbers.

The announcement means revenues for the first half of 2012 are up 30 per cent on last year for Abu Dhabi’s flagship carrier to $2.24 billion, with passenger numbers up to 4.89 million for the first half of the year.

The improved figures were down to the airline’s growing network of codeshares and strategic partnerships which helped bring in 800,000 passengers in the last six months and $281 million.

Etihad recently acquired minority stakes in Virgin Australia and Aer Lingus; it already had stakes in airberlin and Air Seychelles. Together these five airlines carried 72 million passengers across 376 aircraft in 2011, generating combined revenues of more than US$14 billion.

James Hogan, president and CEO of Etihad Airways, said: “These results are an endorsement of our strategy, which has seen us widen and deepen our partnerships in addition to continued focus on our organic growth plan.

“In a quarter when many airlines have seen demand softening, we have been able to add more passengers than ever before, with growth outstripping our capacity increases.”

Etihad Airways launched new routes to Basra and Nairobi during the quarter, and started a new Abu Dhabi-Lagos service.

Last month the airline unveiled plans to launch daily flights to Sao Paolo in Brazil, its first South American destination, which will start in June 2013.