Etihad Airways’ second quarter revenues increase by 31% to $1.25 billion
Etihad Airways (Abu Dhabi) had a very good second quarter.
The company issued the following financial report for the second quarter (Q2):
“Etihad Airways has announced a 31 percent increase in its Q2 2012 revenues to $1.25 billion (2011: $957 million), contributing to first half 2012 revenues up 30 percent to $2.24 billion (2011 $1.73 billion). Passenger numbers leapt to 2.55 million in Q2, up 34 percent, and to 4.89 million in the half year, thanks to increased overall capacity and improved seat factors.
The record results were boosted by the airline’s growing network of codeshares and strategic partnerships which together fed 800,000 passengers into Etihad Airways’ network in the last six months, contributing $281 million.
During the quarter, Etihad Airways took minority equity stakes in Aer Lingus and in Virgin Australia, adding to its minority shareholdings in Airberlin and Air Seychelles.
Together these five airlines carried 72 million passengers on 376 aircraft in 2011, generating combined revenues of more than $14 billion.
Etihad Airways launched new routes to Basra and Nairobi during the quarter, and started a new Abu Dhabi-Lagos service on July 1, 2012, bringing its direct network of cities served up to 87. It also announced new codeshare agreements which brought its total passenger network up to 308 destinations, by far the largest of any Gulf carrier.
Last month, Etihad Airways unveiled plans to launch daily flights to Sao Paolo in Brazil, its first South American destination, which will start in June 2013.
The airline also continued to make considered investments in marketing, products and services, such as new lounges, the introduction of onboard chefs in its Diamond First class cabin and the launch of a global television advertising campaign to drive awareness of its brand and award-winning services.
Etihad Airways’ available seat kilometres (ASKs) rose 25 per cent to 15.2 billion in Q2 (12.2 billion), as the fleet grew to 67 aircraft (61). Revenue passenger kilometres (RPKs) rose 33 per cent to 11.8 billion (8.9 billion).
The average seat factor was 4.6 percentage points higher in the quarter compared to the previous year, up to 77.6 per cent (73.0 per cent).
Etihad Cargo had another strong quarter, with tonnage up six per cent to 74,000 tonnes, contributing to revenues of $183 million, up 11 percent. There was strong growth in particular in Germany, the UK and Bangladesh.
The airline continues to keep a tight focus on costs, with non-fuel costs per available seat kilometre (CASK) down one per cent.”
Q2 2012 results
|Key indicators||Q2 2012||Q2 2011||Variance|
|Revenue passenger kilometres (RPKs)||11.8b||8.9b||33%|
|Available seat kilometres (ASKs)||15.2b||12.2b||25%|
|Total revenue per available seat kilometre (RASK) (fils)||30.27||28.88||5%|
|Seat factor||77.6%||73.0%||4.6 points|
Half year 2012 results
|Key indicators||H1 2012||H1 2011||Variance|
|Revenue passenger kilometres (RPKs)||22.73b||17.51b||30%|
|Available seat kilometres (ASKs)||29.5b||24b||23%|
|Total revenue per available seat kilometre (RASK) (fils)||27.94||26.39||6%|
|Seat factor||77.1%||72.9%||4.2 points|
Copyright Photo: Keith Burton.