Etihad revenue up 8% y/y
Abu Dhabi airline Etihad raised passenger revenues by 8 percent in the second-quarter, helped by higher turnover from its code-sharing and equity alliance partners.
Passenger revenues for the three months to June 30 totalled $921 million versus $855 million in the year ago period, the state-owned airline said in a statement. For the first half of 2013 the rose 13 percent to $1.8 billion.
Some $184 million came from codesharing and equity alliance airline partners in the quarter, up 25 percent over the same period last year. Partnership revenue comprised 20 percent of the airline’s total passenger revenue in the second quarter and the first half of this year.
“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,” James Hogan, president & CEO, said in the statement.
Codesharing involves two or more airlines sharing the same flight with passengers able to purchase a ticket on one airline although the actual flight may be operated by another under a different flight number or code.
Unlisted Etihad, which has stakes in Air Berlin and Virgin Australia, increased such partnerships in the second quarter by adding JAT Airways. The airline said in June it was mulling taking an equity stake in the Serbian carrier.
It also announced new partnerships with Air Canada, South African Airways and Belavia of Belarus, which would take effect in the third quarter, the statement said.
The airline is still awaiting regulatory approval from Indian authorities to acquire a 24 percent stake in Jet Airways , having agreed a $370 million deal in April.
Etihad’s cargo business, in tonnage terms, grew 26 per cent in the second quarter year-on-year, the statement said.
However, the average seat occupancy, or seat factor, in the second quarter was 77.3 percent, down 0.3 percentage points on the same quarter of 2012. (Reuters)