Partnerships continue to drive revenue growth at Etihad

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Etihad Airways grew revenue 11% in the third quarter, while the year-to-date total at 30 September was up 9%.

Third-quarter passenger revenue increased 10% to $1.03 billion, while cargo revenue was up nearly 40% at $244 million.

Over the nine months to 30 September, the Abu Dhabi carrier's passenger revenue climbed 12% to $2.85 billion, and cargo revenue by more than a quarter to $657 million.

However, the figures released by Etihad give no indication of profit or loss for either period.

The airline says third-quarter revenue from codeshare and "equity alliance" partners totalled $247 million, 36% higher than in the same period of 2012. Partnership contributions accounted for nearly a quarter of passenger revenue.

In the course of the third quarter, Etihad enlisted Air Canada, Belavia, Korean Air and South African Airways as codeshare partners, bringing the total to 46. The Middle Eastern carrier also progressed plans to take a 24% stake in India's Jet Airways; entered a five-year contract to manage Jat Airways/Air Serbia, in which it is taking a 49% stake; and upped its stake in Virgin Australia from 10.5% to 17.4%.

It already owned 29% of Air Berlin, 40% of Air Seychelles and 3% of Aer Lingus.

Etihad's third-quarter passenger numbers rose 11% to 3.04 million. Load factor was stable at 81%. For the year to date, load factor was likewise unchanged, at 79%, and passenger numbers up 13% at 8.6 million.