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FINANCIAL NEWS
Etihad Airways reports USD989m profit in Q1
03 Apr 2012
(MENAFN) Abu Dhabi-based Etihad Airways posted a 28 percent increase in quarterly profits, Arabian Business reported.
The carrier said it made USD989 million net profit in the first quarter, marking the best ever quarterly performance.
CEO James Hogan said that based on the latest revenues Etihad was on track to become a USD5 billion per year company by the end 2012.
Revenues derived from air cargo operations were up 12.2 percent to USD159 million during the quarter, Hogan said.
The airline also said that it carried 2.4 million passengers during the quarter, an increase of 500,000 compared to the year ago quarter.
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