Etihad Posts Strong First Quarter

Etihad Airways has reported its strongest ever passenger and cargo volumes for a first quarter, together with US$1.4 billion in total revenues during the three-month period, marking a year-on-year increase of 27%.

A total of 3.2 million passengers travelled with Etihad during the first quarter of 2014, over 14% higher than the 2.8 million passengers from the same period last year. The growth rate is more than double a recent estimate from the International Air Transport Association that passenger demand will increase 5.8% this year on a global basis.

James Hogan, president and chief executive officer of Etihad Airways, commented, “Although the global airline industry has faced challenges such as higher-than-expected fuel prices and fierce competition in key international markets during the first quarter of 2014, we have continued to outperform the passenger and cargo markets, and raise the bar even further for Etihad Airways. Our strong performance highlights the continued success of Etihad Airways’ strategic master plan, which focuses on the three fundamental pillars of organic network growth, codeshare partnerships and minority equity investments in other airlines around the world. This unique strategy, and the investments we have made in product, service and infrastructure, means that Etihad Airways is positioned strongly for top-line growth and bottom-line delivery in 2014.”

Etihad’s volumes were boosted by the growth of its international route network, with 95 destinations operational by the end of Q1 2014, an increase of six compared to the same period in 2013.