Tourism Australia signed a three-year marketing agreement with Etihad Airways to promote Australia.
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Tourism Australia signed a three-year marketing agreement with Etihad Airways to promote Australia.
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ALTERNATE CROP TO PFRA110 - Lufthansa cabin crew members gather for a demonstration as flight attendants of German Lufthansa airline went on an 24-hour-strike for higher wages at the airport in Frankfurt, Germany, Friday, Sept. 7, 2012. Lufthansa canceled 1200 flights. (AP Photo/Michael Probst)
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Passengers wait in front of a Lufthansa counter in Hamburg, northern Germany, Friday, Sept. 7, 2012. Lufthansa canceled about two-thirds of its flights Friday after flight attendants walked off the job at airports around the country in an escalating battle with Germany's largest airline, but signs emerged that the two sides may be prepared to return to the negotiating table. (AP Photo/dapd, Olaf Malzahn)
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Lufthansa cabin crew members gather for a demonstration as flight attendants of German Lufthansa airline went on an 24-hour-strike for higher wages at the airport in Munich, southern Germany, on Friday, Sept. 7, 2012. Poster at center reads "Franz it's enough now" in reference to Lufthansa's CEO Christoph Franz. (AP Photo/Matthias Schrader)
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Canceled flights are displayed on a board as flight attendants of German Lufthansa airline go on an 24-hour strike for higher wages at the airport in Frankfurt, Germany, Friday, Sept. 7, 2012. Lufthansa canceled about 1,200 flights. (AP Photo/Michael Probst)
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Passengers wait in front of Lufthansa counters as flight attendants of German Lufthansa airline went on an 24-hour-strike for higher wages at the airport in Munich, southern Germany, on Friday, Sept. 7, 2012. (AP Photo/Matthias Schrader)
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Children of Lufthansa cabin crew members watch a demonstration as flight attendants of German Lufthansa airline went on an 24-hour-strike for higher wages at the airport in Munich, southern Germany, on Friday, Sept. 7, 2012. (AP Photo/Matthias Schrader)
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A Lufthansa cabin crew member holds a poster during a demonstration as flight attendants of German Lufthansa airline went on an 24-hour-strike for higher wages at the airport in Munich, southern Germany, on Friday, Sept. 7, 2012. First sentence on the poster reads "Finish smiling away". (AP Photo/Matthias Schrader)
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Passengers stand behind an exit sign near Lufthansa counters as flight attendants of German Lufthansa airline went on an 24-hour-strike for higher wages at the airport in Munich, southern Germany, on Friday, Sept. 7, 2012. (AP Photo/Matthias Schrader)
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A camera man films beds for stranded passengers as flight attendants of German Lufthansa airline went on a 24-hour-strike for higher wages at the airport in Munich, southern Germany, on Friday, Sept. 7, 2012. (AP Photo/Matthias Schrader)
Abu Dhabi's Etihad posts triple profits
ABU DHABI,
United Arab Emirates (
AP) — Fast-growing
Etihad Airways tripled net profits last year as it added routes and code-share arrangements in its expanding rivalries with other premium Gulf airlines, the
Abu Dhabi-based carrier said Monday.
Government-owned Etihad said that 2012 net profit jumped to $42 million, compared to $14 million in 2011. Revenue rose 17 percent to $4.8 billion, while the number of passengers increased by 23 percent to 10.3 million.
"This has been a game-changing year," said Etihad CEO James Hogan.
He said cost-control measures and ongoing investments helped boost the airline's profits during a challenging global economic environment.
Etihad began flying to six new destinations last year, including Shanghai and Kenya's capital, Nairobi. It also has announced expanded service this year to Washington and other cities.
The nearly 10-year-old airline has aggressively sought to expand cost-share agreements and purchase stakes in foreign airlines such as airberlin and Virgin Australia. It also is in talks for a possible share in India's Jet Airways. Etihad said that partner airlines contributed 19 percent of last year's passenger revenue growth.
The carrier is locked in deepening competition with Gulf rivals Qatar Airways and Dubai-based Emirates.
Tags:
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