Etihad Airways profits increase 29% in third quarter

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Abu Dhabi’s government owned Etihad Airways, which intends to acquire a 49% share in struggling Alitalia, stated third-quarter profits increased 29% thanks to passenger and cargo development.

Etihad Airways profits increase 29% in third quarter

Etihad Airways profits increase 29% in third quarter

The airline obtained profits of $1.8 billion in the three months ending September. Revenue from code-share and equity partners was $352 million in the third quarter, up 44% over partners was the previous year period.

Etihad has shares in Air Seychelles, airberlin, Air Serbia, Virgin Australia, Aer Lingus and Jet Airways, and is in the course of buying shares in Alitalia and Swiss-based Etihad Regional.

Their focus on organic progress, code share affiliations and minority investments in other airlines has continued to produce robust results, regardless of the occurrence of business challenges for example unsteady oil prices, economic and political volatility, overcapacity in the market, and access constraints, according                      to the Etihad President and CEO, James Hogan.

Etihad carried 3.9 million passengers in the third quarter, increase 30% on the year. Freight capacities touched 144,498 tonnes in the third quarter, an upsurge of 9%, bringing in profits with the total amount of $284 million, a 16% growth on the year.

Mohamed Dekkak