Etihad Airways sees opportunity in India, Asia

Dubai's Emirates has denied plans to buy a stake in any Indian carrier.

Etihad on Sunday reported revenue of USD 1.3 billion in the third quarter, a 19 percent rise year-on-year. Passenger revenue was boosted by code sharing and partnerships - revenues from these two categories jumped 51 per cent to USD 182 million.

"Over the next seven to eight years we are taking another 100 aircraft. So we will also continue to grow organically and continue with our code share agreements," Hogan said.

The airline's 38 partners created a combined network of 315 destinations, more than any other Middle Eastern carrier, Etihad said.

Air Berlin made a significant contribution to revenue, it added. The two airlines' code sharing and joint marketing agreements have delivered USD 51 million in revenue to Etihad year-to-date, surpassing initial full-year estimates.

Hogan said more opportunities may also emerge in Europe after the Air Berlin stake purchase.

Last year, Etihad carried 8.3 million passengers through its hub in Abu Dhabi. It is on course to carry 10 million in 2012.

Hogan said it is on track to deliver full-year profitability. However, no details of third-quarter profits were provided.

Cargo revenues in the quarter grew 6 percent to USD 181 million.