UAE national carrier Etihad Airways posts biggest annual profit yet

The UAE’s national carrier generated net profits of $62 million (Dhs223 million) in the last 12 months, a 48% increase of the $42 million (Dhs150 million) made in 2012.

The profits were driven by a 27% surge in revenues for the Abu Dhabi-based airline, as its passenger numbers climbed by 12% to 11.5 million – helped by the addition of 19 new aircraft to its fleet last year and the addition of six new destinations in 2013 – Washington DC, Amsterdam, Sao Paulo, Belgrade, Ho Chi Minh City and Sana’a.

Etihad CEO James Hogan said that its purchases of Boeing aircraft have helped the U.S. aviation industry and that, in the end, the customer will decide who wins and who loses.

In 2014, Etihad expects to add 18 new aircraft to its fleet, including its first Boeing 787-9 Dreamliners and Airbus A380s. New destinations being launched this year will include Los Angeles, Dallas, Rome, Zurich, Jaipur, Perth, Phuket, Medina and Yerevan.

The 10-year-old Etihad is among the world’s fastest growing airlines. It has aggressively expanded its fleet of aircraft and owns stakes in Air Berlin, Air Seychelles, Virgin Australia, Aer Lingus and Jet Airways.

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