Etihad prepares to defend record-breaking profits

Etihad prepares to defend record-breaking profits

It’s all coming up Etihad, with record profits soaring through its doors.

Etihad Airways has reported a personal best of $73 million on turnover of $7.6 billion in 2014.

The Abu Dhabi-based carrier recorded a 22% year-on-year rise in passengers, peaking at 14.8 million, along with a 52% increase in net profit, with revenue up almost 27% on 2013.

Etihad reported an operating profit of $1.1 billion, as it increased its fleet from 89 to 110 aircraft over the course of last year.

The figures come as Etihad handles a delicate situation, whereby leading US carriers allege that the airline has benefitted from government subsidies.

The carrier is due to respond to the allegations, presenting detailed explanations to the US government by the end of this month.

US carriers Delta Air Lines, American Airlines and United have made similar charges against Dubai-based Emirates and Qatar Airways.

Etihad president and chief executive James Hogan said the airline’s focus is making its profits sustainable.

“Our fourth year of net profits at a time when we continue to invest in new routes, new aircraft, new product and new infrastructure shows we are serious about that goal,” Hogan said.

“We have continued to grow not just in size, reputation and performance but also in maturity, evolving from an airline to a diverse global aviation and tourism group.”

Etihad also stated that at the heart of its growth was its partnership strategy and minority investments in other airlines.

Etihad owns 49% of the new Alitalia, took a 49% stake in Air Serbia last year and has minority stakes in Air Berlin, Air Seychelles, Jet Airways and Virgin Australia.

It also holds almost 5% of Aer Lingus, whose board accepted a takeover bid by British Airways’ parent IAG this week.

Latest News

  • Destinations
  • News

APT Launches 2025 Asia Adventures

APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]