Etihad Airways has posted its fourth consecutive year of profit and strongest financial results to in the airline’s short history.
The Gulf carrier saw profit rise 52 per cent from last year to $73 million with revenue soaring to $7.6 billion.
The strong financial performance was helped by record passenger numbers – 14.8 million passengers used Etihad in 2014 compared to 12.1 million the previous year.
Etihad CEO James Hogan said: “Our focus is on sustainable profitability and our fourth year of net profits, at a time when we continue to invest in the new routes, new aircraft, new product and new infrastructure needed to compete effectively, shows we are serious about that goal.”
Subsidies row
Last week, Etihad hit back again at US claims that the Open Skies agreement is weighted in favour of Gulf carriers.
Etihad said the airline will support the US economy with more than 23,000 jobs and $2.9 billion in 2015. It added that both of the figures will double by 2020 as Etihad increases operating expenditure and capital investment.
US carriers have claimed that their competitors from the Gulf region have received more than $40 billion in government subsidies since 2004 causing unfair competition and threatening the Open Skies agreements, something the Etihad, Qatar and Emirates all refute.
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