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Etihad posts 4th straight year of profit

MANILA, Philippines - Etihad Airways, the national airline of the United Arab Emirates, achieved its strongest financial results to date in 2014, posting a net profit of $73 million on total revenues of $7.6 billion, up 52.1 percent and 26.7 percent respectively over the previous year.

The record performance, which marked the airline’s fourth consecutive year of net profitability, also saw earnings before interest and tax (EBIT) up 32.5 percent to $257 million. Earnings before interest, tax, depreciation, amortization and rentals (EBITDAR) were up 16.2 percent to $ 1.1 billion, representing a 15-percent margin on total revenues.

Etihad operates two flights daily between Abu Dhabi and Manila.

Etihad Airways’ financial statements are audited by KPMG and are in accordance with international financial reporting standards (IFRS).

James Hogan, president and chief executive officer of Etihad Airways, said: “Our shareholder has set a clear commercial mandate for this business and we continue to deliver against that mandate. Our focus is on sustainable profitability and our fourth year of net profits, at a time when we continue to invest in the new routes, new aircraft, new product and new infrastructure needed to compete effectively, shows we are serious about that goal.

 

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