Etihad hits record 28 percent revenues in first half

Etihad Airways on Friday reported its most successful first half year, with revenues up 28 percent to 1,720 million dollars (H1 2010: US $1,342 million), driven by solid performances in both passenger and cargo activities. A two percent reduction in costs per available seat kilometre, despite large increases in oil prices, also helped deliver a positive EBITDAR (earnings before interest, tax, depreciation, amortisation and rentals) in the six months from January 1 for the first time.
The results mark continued progress towards the airline's goal of breaking even this year and moving into sustainable profitability in 2012. James Hogan, Etihad Airways Chief Executive Officer, said the results were achieved despite a still fragile economy and, at times, difficult operating conditions. They were released as Etihad, the national airline of the United Arab Emirates, prepares to significantly expand its global network.-PR