Etihad Airways sees best ever third quarter as first annual profit nears

Etihad Airways’ goal of its first full-year break even is edging ever closer, with the airline reporting its “best ever” third quarter result. The carrier’s CEO, James Hogan, described the result as “a big step in the right direction for us”, with the airline on track to deliver a positive EBITDAR result for FY2011. The airline did not reveal a profit/loss figure for the period, but Mr Hogan stated that Etihad had strong profitability at an EBITDAR level and has moved into monthly operating profitability. Earlier this year, the airline reported positive EBITDAR for 1H2011, again without revealing exact figures.

Overall revenue for the three months to 30-Sep-2011 rose 39% year-on-year to USD1.1 billion, the first time quarterly revenue has exceeded the USD1 billion milestone.

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