Etihad Airways boosts services and profits in 2014
Demand for both passenger and cargo services are outstripping the airline’s current capacity, which is good news for investors as the company exceeded its financial goal of becoming a billion dollar company last year.
Etihad brought in $7.6 billion in revenues, thanks largely to a record volume of cargo and passengers. That brings the company’s earnings up more than 32 percent before interest and tax.
Etihad Airways President and CEO James Hogan said the numbers show the company is meeting its mandate from investors.
“Our focus is on sustainable profitability and our fourth year of net profits, at a time when we continue to invest in the new routes, new aircraft, new product and new infrastructure, needed to compete effectively, shows we are serious about that goal,” Hogan said.
Nearly 15 million passengers flew with Etihad Airways in 2014, an increase of 22 percent for the year. That growth was fueled by the airline’s network expansion last year. Ten new destinations were opened up in eight countries: Los Angeles, Dallas, San Francisco, Rome, Zurich, Medina, Yerevan, Jaipur, Phuket and Perth.