Abu Dhabi-based airline Etihad Airways delivered a 19% increase in revenue in the third quarter of 2012, but profits remain very limited. The state-controlled company earned US$1,3 billion in the quarter ended September, compared with US$1,1 billion in the corresponding period of 2011. The increase reflects a sharp increase in passenger numbers, which were 2,79 million in the quarter, with projections of exceeding 10 million for the current year.
However, Etihad has confessed that on the profit front, things have not gone so satisfactorily. However, the company said it was confident of earning good annual profits despite the challenges posed by the current global economic and financial conditions.
In February, Etihad announced that it broke even for the first time since its launch in 2003, posting $14 million in profits in 2011. Last month, Etihad boss James Hogan said the company it hoped for revenue of $5 billion in 2012, up from $4,1 billion in 2011, as well as a strong earnings performance.
http://www.chinapost.com.tw/business/company-focus/2012/10/08/356868/Abu-Dhabis.htm
