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            september 23, 2019

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Etihad Airways quarterly cargo up 17pc


Etihad Airways has posted a 17 per cent year-on-year first quarter increase in air cargo revenue at US$193 million with passenger sales up 19 per cent to $900 million, reports The National of Abu Dhabi, according to the Shipping Gazette.
Quarterly cargo volumes were up 20 per cent to 101,776 tonnes year on year with a capacity growth standing at 19 per cent, driven by a strong performance in north-east Asia, an Etihad spokesman said.
Etihad Cargo took delivery of a new Boeing 777 Freighter, which was deployed on European and African routes during the quarter. A second Boeing 747 freighter entered the fleet at the end of March, taking the total cargo fleet to eight aircraft.
"The new twice-weekly freighter operation from Houston to Abu Dhabi enhanced the results," a company spokesman said.
Passenger numbers grew by 18 per cent, rising from 2.3 million to a record 2.8 million, with an average number of seats filled per flight of 80.5 per cent, four per cent higher than the previous year of 76.5 per cent, despite a 12 per cent increase in capacity. The percentage of filled seats is above the International Air Transport Association's (IATA) current global average of 77.1 per cent.
"The results have again outstripped global trends, with our strongest ever first quarter results for passenger revenue," said Etihad CEO James Hogan. "This performance demonstrates that Etihad Airways' strategy of organic growth, wide-ranging partnerships and strategic equity investments is delivering for us and our partners."
Mr Hogan said revenue from code-share and equity partners jumped by 34 per cent from $136 million to $182 million in the first three months of the year and represented 20 per cent of total revenue in the quarter. "As well as increasing top-line revenue, our equity partnerships will improve bottom-line results, through cost savings delivered by operational synergies," Mr Hogan said.

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