Etihad has announced it expects to make a loss this year, but that it is on track to break-even in 2011, and turn a profit in 2012.
James Hogan, Etihad’s CEO, said the middle eastern airline will report profitable EBITDAR (earnings before interest, tax, depreciation amortisation and rentals – a measure of operational profitability) for 2010.
If true, this year’s financial results will represent the first time the seven-year old airline has reported profitable EBITDAR.
Hogan said it would be “an important milestone in the commercial development of the airline”.
He added: “Our next goal is full break-even in 2011, leading to sustainable profitability from 2012 onwards. All our indicators show that these targets are in our sights.”