Etihad alliance strengthens as Air Seychelles returns to profit

Etihad alliance strengthens as Air Seychelles returns to profit
By admin


The first year of Etihad's equity alliance strategy has been branded a success by the Abu Dhabi-based carrier as Air Seychelles became its final partner to post a full year profit.

The US$1 million net profit marks Air Seychelles' return to the black following three years of losses.

In addition to Air Seychelles, Etihad has codeshare relationships in place with and stakes in Airberlin, Aer Lingus and Virgin Australia.

Etihad recently posted net profits of US$42 million, while Airberlin saw operating profits of 317.2 million euro, Virgin Australia had profit after tax of $23 million and Aer Lingus' operating profit rose 40.7% to 69.1 million euro.

Etihad president and chief executive James Hogan underlined 2012 as a "very tough year" which saw overall airline industry profits shrink for the second year running.

"Yet each of the airlines in our equity alliance showed strong financial performance with each reporting a profit," he said.

The results are evidence of the alliance's investment in both its businesses and management teams, according to Hogan. In addition, he claimed the greater passenger numbers and shared cost synergies which result from the alliance are improving performances across the board.

"Because we've got ‘skin in the game', we go much further than the legacy alliances," Hogan said. "Our new model gives benefits on both sides of the equation – revenue and costs."

Latest News

  • Aviation

Air Vanuatu cancels all flights to Australia, files for insolvency

Hundreds of passengers have been stranded across the Pacific, Australia and New Zealand after Air Vanuatu cancelled a slew off flights across the region. Riddled with technical faults over the last year, Air Vanuatu filed for insolvency on Monday and has cancelled flights to and from Sydney, Brisbane and Auckland until at least Sunday. The Vanuatu […]

  • Destinations

Tropical North Queensland action-packed events calendar for adventure enthusiasts

Sporting enthusiasts and adventure seekers are gearing up for an action-packed year in Tropical North Queensland, with a lineup of sports events and adrenaline-pumping experiences set to take centre stage in 2024. Leading the charge is the highly-anticipated return of the Crankworx World Tour ‘Paradise Edition’ to Cairns from 22-26 May 2024. The mountain biking […]

  • Travel Agents

Disney Days returns with Inside Out 2 showing in Sydney, Brisbane, Melbourne and Auckland

Time is running out for agents to register their Expression of Interest to an exclusive screening of the much-anticipated Disney and Pixar film, Inside Out 2, hosted by Disney Destinations Australia/New Zealand team and partner United Airlines. Places are limited and applications must be in by 17 May. In addition to the screening of the […]

  • Cruise

Aranui Cruises slashes prices with No Single Supplement and Half Price offers

French Polynesian cargo cruise line Aranui Cruises is slashing thousands off its 2025 Austral and Marquesas Islands cruises with an autumn sale offering 50 per cent off the second guest in a twin share room and no single supplement for solo travellers. On sale until June 21, 2024, Aranui’s 12-day roundtrip voyage from Papeete to […]