Etihad Airways, the national airline of the United Arab Emirates, today reported total revenues of US$1.8 billion for the third quarter of 2014, an impressive increase of 29 per cent year-on-year, achieved on the back of accelerated passenger and cargo growth during the summer.
A total of 3.9 million passengers travelled with Etihad Airways between July and September this year, 30 per cent higher than the three million passengers from the same period in 2013. Etihad Cargo also outperformed the global market, carrying 144,498tonnes of freight and mail during the third quarter, a year-on-year increase of nine per cent, on only one percent capacity growth.
James Hogan, President and Chief Executive Officer of Etihad Airways, said: “Our focus on organic growth, codeshare partnerships and minority investments in other airlines has continued to produce strong results, despite the prevalence of industry challenges such as volatile oil prices, economic and political instability, overcapacityin the market, and access constraints.
Etihad Airways’ passenger carrying capacity, measured in Available Seat Kilometres (ASK), was 22billion by the end of Q3 2014, an increase of 16per cent over the same period last year. The airline’s fleet expanded to 105aircraft, with threeaircraft delivered in the third quarter.
An additional fiveaircraft are scheduled to be received in the final quarter of 2014, including Etihad Airways’ first Airbus A380 and Boeing 787, which commence operations in December and will feature brand new First, Business and Economy Class products. The A380 will also include The Residence by Etihad™, a three-room private cabin that boasts a living room, separate double bedroom and ensuite shower, together with a personal butler service.
Etihad Airways unveiled a new livery designlast month, which will be introduced across its fleet, starting with the A380 and B787. The livery is inspired by traditional Emirati design patterns, the landscapes of the desert, and geometric shapes found in the modern architecture of Abu Dhabi.
Cargo revenue was US$284 million in the third quarter of 2014, a year-on-year increase of 16 per cent. Etihad Cargo remains on track to become a billion dollar business in 2014, having reported US$804million in revenue during the first three quarters of the year.
Etihad Airways’ workforce grew to 22,886employees by the end of the third quarter, up 38per cent year-on-year. Part of this significant increase can be attributed to the airline’s acquisition of Abu Dhabi Aircraft Technologies LLC (ADAT) from Mubadala earlier this year.
Within the core airline, 1,716employees are UAE nationals, 28per cent more than the same period in 2013, and Emiratis are the number one nationality group atmanager level. Last month, Etihad Airways announced plans to establish a dedicated Revenue Accounting Centre of Excellence in Al Ain, which willcreate job opportunities for more than 1,000 Emiratis over the next three years and create long-term economic value for the Emirate of Abu Dhabi. The centre will be a global leader in revenue accounting, offering a range of competitively priced services that will bring cost savings and operational efficiencies to airlines, including Etihad Airways.
