Etihad Airways announces record financials
Etihad Airways today announced record financial results for 2013, with net profit up 48 per cent to US$62 million on revenues up 27 per cent to US$6.1 billion. The record performance also saw earnings before interest and tax up 22 per cent to US$208 million and earnings before interest, tax, depreciation, amortisation and rentals up 30 per cent to US$979 million, a margin of 16 per cent of total revenues.
This marked the third successive year of net profitability, in the airline’s tenth year of operation. James Hogan, president, Etihad Airways, said: “This is another important step forward in our journey as a growing, commercially successful business.
“We have hit every financial target for each of the last seven years, bringing sustainable profitability to a business which has grown from just US$300 million in revenues in 2005 to more than US$6 billion today.