Etihad experiences 28pc increase in revenues

Etihad Airways today reported its most successful first half year, with revenues up 28 per cent to $ 1,720 million (H1 2010: $ 1,342 million), driven by solid performances in both passenger and cargo activities. A 2 per cent reduction in costs per available seat kilometer, despite large increases in oil prices, also helped deliver a positive EBITDAR (earnings before interest, tax, depreciation, amortisation and rentals) in the six months from January 1 for the first time. The results mark continued progress towards the airline’s goal of breaking even this year and moving into sustainable profitability in 2012. Etihad Airways Chief Executive Officer James Hogan said the results were achieved despite a still fragile economy and, at times, difficult operating conditions.