ABU DHABI: Abu Dhabi's state-owned Etihad Airways, which has become a major competitor to the biggest global airlines on European and Asian routes, posted a 41 percent leap in net profit for 2015 on the back of strong passenger growth, the airline said on Wednesday.
Etihad, which owns stakes in Alitalia and AirBerlin, made a net profit of $103 million in 2015 compared with $73 million in the previous year, it said in a statement.
Revenue climbed to $9.02 billion from $7.55 billion. The airline carried 17.6 million passengers in 2015, up 19 percent.
"Our profitability clearly demonstrates the success of our business strategy, based on organic growth boosted by our partnerships," President and Chief Executive James Hogan said.
Revenue passenger kilometres, which measure passenger journeys, rose 21.3 percent to 83.2 billion while available seat kilometres, which represent capacity, grew 21 percent to 104.8 billion.
Etihad, which has 50 codeshare agreements and equity in seven airlines, earned $1.4 billion in direct revenue through this partnership strategy versus $1.1 billion in the previous year. The airline's cargo volume rose 4 percent to 591,000 tonnes in 2015.
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