Alliance revenue soars for Etihad
Etihad has reported record results for the second quarter and the first half of its financial year as its codeshare and equity alliance-generated revenue flourished.
The Abu Dhabi-based carrier posted an 8% rise in passenger revenues for the second quarter taking it to US$921 million (AU$1.01b), while a 13% increase for the first half took passenger revenues to US$1.8 billion (AU$1.97b).
Revenue generated by codeshare and equity alliance partnerships in the second quarter surged 25% year on year to US$184 million (AU$202m). It comprised 20% of the airline's total passenger revenue for both the quarter and the first half with Germany's Airberlin becoming its largest codeshare contributor.
The quarter also saw the airline announce new partnerships with JatAirways, Air Canada, South African Airways and Belavia which will take effect during Q3.
President and chief executive James Hogan said the results reflected solid growth in its alliance strategy and global cargo operations despite ongoing economic and geopolitical uncertainty.
"This reflects not only the continuing popularity of our Abu Dhabi hub, but the growing maturity of our airline partnership stratgey and the strength of our cargo operations, which continue to well exceed industry growth rates," he said.
However, Hogan admitted that air fare yields were slightly lower for the quarter, as competition-driven capacity growth impacted pricing.
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