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FINANCIAL NEWS
Etihad revenue up 21.2% in Q1
20 Apr 2011
(MENAFN) Abu Dhabi’s flag carrier, Etihad Airways’ CEO, James Hogan, said that the company had a 21.2 percent growth in revenues which amounted to USD770 million, thus pushing the company to generate operating profit, reported Arabian Business.
Hogan stated that the carrier was able to decrease costs per available seat kilometer by 5.9 percent, which contributed to the company’s positive financial results.
In addition, passenger revenues increased by 15 percent, while revenue of freight divisions increased by 44 percent compared to the first quarter of 2010.
Hogan said that despite positive results, a dip is expected in the coming quarter due to the hiking of fuel prices in addition to the unrest in the region and the nuclear crisis that hit Japan recently.
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