Etihad announces strongest Q1 results

MANILA, Philippines - Etihad Airways, which this year celebrates its 10th anniversary of operations, has recorded its strongest ever passenger and cargo results for a first quarter.

The Abu Dhabi-based airline posted passenger revenues of $900 million in the first quarter of the year, an increase of 19 percent; and cargo revenues of $193 million, an increase of 17 percent.

Passenger numbers in first quarter grew by 18 percent, rising from 2.3 million to a record 2.8 million.

The average seat factor was 80.5 per cent, four percentage points higher than the previous year, despite a 12 percent increase in capacity. The seat factor is above IATA’s current global average of 77.1 percent.

Etihad Cargo also had its strongest first quarter, with tonnage up 20 percent from 85,152 to 101,776 tons.

James Hogan, president and chief executive officer of Etihad Airways, said: “Our first quarter 2013 results have again outstripped global trends, with our strongest ever first quarter results for passenger revenue.

“This performance demonstrates that Etihad Airways’ strategy of organic growth, wide-ranging partnerships, and strategic equity investments is delivering for us and our partners,” he said.

Revenue from codeshare and equity partners jumped by 34 percent from $136 million to $182 million in the first three months of the year and represented 20 percent of total revenue in the quarter.