Etihad profits fly past $100m

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Etihad Airways has seen profits pass the $100 million barrier in 2015 while cargo volumes have increased by four per cent to 591,000 tonnes.

Net profits rose from $73 million in 2014 to $103 million and revenue was up from $7.5 billion to $9 billion in 2015. Cargo volumes increased from 569,000 tonnes in 2014 to 591,000 tonnes in 2015.

Etihad Airways president and chief executive officer, James Hogan says: “Our mandate is to build a sustainably profitable airline. A fifth year of net profits, with our best annual financial performance to date, shows that we are delivering against that goal. Our profitability clearly demonstrates the success of our business strategy, based on organic growth boosted by our partnerships.”

Etihad Airways’ cargo division, Etihad Cargo, represented 88 per cent of cargo at Abu Dhabi International Airport. Etihad’s network was increased with six new passenger routes with bellyhold capacity and services to Dakar, Nouakchott and Douala increased the freighter network to 20 destinations.

The airline increased its fleet by 11 aircraft to 121, including four Airbus A380-800s and four Boeing 787-9 Dreamliners. Etihad has 204 aircraft on order including 71 Boeing 787s, 25 Boeing 777Xs, 62 Airbus A350s and 10 Airbus A380s.