Etihad reports 1Q revenue jump; plans first South American route
Published: April 4, 2012
Etihad Airways A330-200. By Rob Finlayson
Etihad Airways (EY) saw 2012 first-quarter revenues of $ 989 million, up 28% compared to the 2011 first quarter, the carrier reported Tuesday.
EY also said passenger numbers for the quarter increased by 500,000 to 2.4 million. The carrier did not give profit figures, but president and CEO James Hogan, said that all revenue targets and budget estimates for the quarter were met despite challenging economic conditions.
The airline said RPKs rose 26.6% to 10.9 billion because of growth in available seat ASKs through new routes, additional frequencies, increased seat capacity and strengthening load factors. Seat factor jumped by 3.8 percentage points to 76.5%, the highest first-quarter level in the airline’s history.
“We are flying with fuller planes across the network and our codeshare partnerships played a major role in this growth, accounting for 18% of our revenues in the quarter,” Hogan said.
Hogan also announced that EY will begin daily flights to its first South American destination in mid-2013—the city is yet to be revealed—and also plans to begin a new service to Vietnam.
The carrier recently announced plans to fly from Abu Dhabi to Washington Dulles from next year, its fourth North American destination ( ATW Daily News, Feb. 24 ).