Etihad Airways, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin and Virgin Australia , will look to extend its geographical reach to India and other Asian markets.
Etihad Airways, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin Kingfisher Airlines
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.
Kingfisher Air stock price
On October 31, 2014, Kingfisher Airlines closed at Rs 1.98, down Rs 0.05, or 2.46 percent. The 52-week high of the share was Rs 6.25 and the 52-week low was Rs 1.72.
The latest book value of the company is Rs -166.59 per share. At current value, the price-to-book value of the company was -0.01.
READ MORE ON Etihad Airways, Abu Dhabi, Air Berlin, Virgin Australia, Emirates, Qatar Airways, Kingfisher Airlines, SpiceJet, Jet Airways
Set email alert for
ADS BY GOOGLE
video of the day
See 7% GDP by FY17; like pvt banks, autos: Kotak's Prasad