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Fierce Growth, New Business Model For Etihad Airways

by Lorys Charalambous, Tax-News.com, Cyprus

04 March 2014


Etihad Airways has confirmed the formation of the Etihad Aviation Group to include the airline, its travel and tourism management and global loyalty companies, Etihad Airport services, and Group support functions.

James Hogan, Group President and CEO, said: "Ten years ago we started life as a small regional carrier, but with global ambitions. Since then we have grown to become one of the world's leading passenger and cargo airlines, and have expanded and diversified our operations outside the core airline business laying the foundations to become one of the leading aviation and travel groups in the world. The new Etihad Aviation Group structure reflects this diversification and is a natural development to deliver continued and sustainable success for Etihad Airways and its partners."

Etihad Airways had a hugely successful year in 2013, according to statistics posted on March 3, 2014. Net profits were up to 48 percent, from USD42m to USD62m, on the back of stronger passenger numbers, up 12 percent to 11.5 million. To meet this extra demand, the airline expanded its fleet to 89 aircraft from 70.

Total revenue was up 27 percent, to USD6.1bn. Its alliance strategy also performed strongly – partnership revenues were up 30 percent to USD820m, representing 21 percent of passenger revenues. During the year, codeshare partners increased from 40 to 47.

TAGS: aviation

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