Etihad Airways Q2 passenger revenues up 8%

Etihad Airways has announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations.
The carrier achieved an eight percent increase in Q2 2013 passenger revenues, generating $ 921 million (2012: $ 855 million), while passenger revenues for the first half of 2013 reached $ 1.8 billion (2012: $ 1.6 billion), up by 13 percent.
Revenue generated by codeshare and equity alliance airline partners was $ 184 million in Q2 2013.
This was 25 percent above the $ 147 million turnover in the same period of 2012.
Partnership revenue comprised 20 percent of the airline’s total passenger revenue in both Q2 and the first half of 2013.
James Hogan, president and CEO of Etihad Airways, said the company’s Q2 and half year results were achieved despite the continuation of unsteady economic and geopolitical factors, with air fare yields slightly lower for the quarter, compressed by strong competitive capacity growth and resultant price competition.
“Despite the tough global trading climate, we have still achieved record, double digit growth in both Q2 and the first half of 2013,” Hogan said.
“This reflects not only the continuing popularity of our Abu Dhabi hub, but the growing maturity of our airline partnership strategy and the strength of our cargo operations, which continue to well exceed industry growth rates.”
Hogan said a significant achievement in Q2 was the improved contribution of the Etihad Airways equity alliance partners, in particular Germany’s airberlin, which has become the largest codeshare contributor.
This reflects increased connectivity between the integrated networks of the two airlines.