Abu Dhabi's Etihad first quarter revenue rises 28%
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Tue April 3, 2012 10:03 am

UAE. Etihad Airways, Abu Dhabi's flagship carrier, said quarterly revenues rose 28% on the back of increased passenger numbers and the expansion of its global network.

The unlisted airline said first quarter revenues were US$989 million, compared with US$770 million for the year-ago period, according to a statement on Tuesday.

Average seat factor was 76.5% for the first-quarter and the airline carried 2.36 million passengers during the period.

"We met all our revenue targets and budget estimates in first quarter, despite challenging economic conditions confronting the international community," Chief Executive James Hogan said in the statement.

The airline acquired 30% of Germany's Air Berlin last year and took a 40% stake in Air Seychelles in February.

"Investment in Air Berlin and Air Seychelles are already bearing fruit and we are starting to see both revenue and cost benefits from synergies with each carrier," Hogan said.

Etihad posted its first annual profit in 2011 since it was created nine years ago, notching a small US$14 million profit

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 4, 2015
UAE. Continued volatility seems to be the only certainty at the moment. Although it's hard to predict with any degree of certainty which way the charts will swing, the election polls remaining close does point towards investor sentiment weighing on the GBP.
date:Posted: May 3, 2015
UAE. According to a new The Boston Consulting Group (BCG) study, the world's ocean is worth US$24 trillion - over 15 times the asset size of The Abu Dhabi Investment Authority (ADIA) and the Saudi Arabian Monetary Agency (SAMA) combined.
date:Posted: May 1, 2015
SAUDI ARABIA. Saudi Arabia's government and external balance sheets currently remain strong and provide a buffer to withstand external shocks, including a drop in oil prices; The outlook remains negative, reflecting S&P's view that Saudi Arabia's general government fiscal position is weakening.
UAE. Continued volatility seems to be the only certainty at the moment. Although it's hard to predict with any degree of certainty which way the charts will swing, the election polls remaining close does point towards investor sentiment weighing on the GBP.
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