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            january 19, 2020

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Etihad posts 8pc rise in quarterly revenue, driven by cargo growth


Etihad Cargo posted a 26 per cent increase in air freight in the second quarter to 112,963 tons of air freight and by 23 per cent to 215,124 tons in the first half, according to the Shipping Gazette.
The results show that the cargo division of Etihad Airways, the national carrier of the United Arab Emirates, continued to achieve the strongest growth in the company.
A press release said the increase in cargo volumes was underpinned by the delivery in the second quarter of three new freighters, an Airbus A330-200F, a Boeing 777-200F and its first Boeing 747-8F, which was wet leased from Atlas Air. They bring the number of aircraft in its cargo fleet to nine.
Cargo performance was further boosted by increased passenger services, providing more bellyhold capacity, following the delivery of two new Boeing 777-300 passenger aircraft.
The carrier posted an eight per cent increase in Q2 passenger revenues, generating a record US$921 million, while passenger revenues for the first half were up 13 per cent to reach $1.8 billion, its highest level ever.
Within the total, revenue generated by codeshare and equity alliance airline partners rose by 25 per cent year on year in the second quarter to $184 million. Partnership revenue comprised 20 per cent of the airline's total passenger revenue in both Q2 and the first half of 2013.
"This reflects not only the continuing popularity of our Abu Dhabi hub, but the growing maturity of our airline partnership strategy and the strength of our cargo operations, which continue to well exceed industry growth rates," said Etihad Airways CEO James Hogan.

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