Etihad announces strongest ever Q1

Etihad Airways recorded its strongest ever passenger and cargo results for a first quarter. The Abu Dhabi-based airline posted Q1 2013 passenger revenues of US$900 mln (2012: US$758 mln), an increase of 19%; and cargo revenues of US$193 mln (2012: US$165 mln), an increase of 17%. Passenger numbers in Q1 2013 grew by 18%, rising from 2.3 mln to a record 2.8 mln. The average seat factor was 80.5%, four percentage points higher than the previous year (2012: 76.5%), despite a 12% increase in capacity. The seat factor is above IATA’s current global average of 77.1%.

Etihad Cargo also had its strongest first quarter, with tonnage up 20% from 85,152 to 101,776 tonnes.

James Hogan, President and Chief Executive Officer of Etihad Airways, said: “Our Q1 2013 results have again outstripped global trends, with our strongest ever first quarter results for passenger revenue.

Revenue from codeshare and equity partners jumped by 34% from US$136 mln to US$182 mln in the first three months of the year and represented 20 per cent of total revenue in the quarter.

Etihad's equity alliance comprises airberlin, Air Seychelles, Virgin Australia and Aer Lingus. Each airline announced profitable results during the first quarter of 2013.

In February, Etihad Airways announced a US$42 mln profit for 2012 with revenues of US$4.8 bln and passenger numbers breaking 10 mln for the first time.

Etihad Airways operates a two-cabin Airbus A320 between Larnaca and Abu Dhabi every Monday, Wednesday and Friday. www.etihad.com