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Are Etihad’s growing pains coming to an end?
Etihad is on track to breaking even, if the eight year old company’s stellar revenues for the first half of the year is anything to go by.
July 15, 2011 12:00 by Eva Fernandes
And in other news Etihad is still on track to breaking even. Well that’s what Etihad’s latest revenues suggest anyway.
Etihad Airways this week reported a 28 percent jump in revenues in the first half of 2011 boasting of $1.72 billion (Dh6.31 billion) in sales. Cargo operations climbed 32 per cent in revenues in as tonnage and yields improved just as passenger and cargo traffic increased. The company’s results are even more impressive considering the increased fuel charges and the regional unrest.
So three cheers for Etihad whose stellar half year sales suggest that the airline is on track for actually breaking even this year, and maybe entering the sustainable profits group sometime next year. No one is more pleased than James Hogan, the chief executive of Etihad, who told The National “The business is maturing with each passing year.” Our revenue and capacity is rising at a greater rate than the costs of infrastructure, administration, and normal overheads. The growing pains of our initial years are less pronounced.”