Etihad Reports USD$103 Million Profit For 2015

April 27, 2016

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Etihad Airways has reported a consolidated net profit of USD$103 million for 2015 on the back of strong passenger growth.

Etihad, which owns stakes in Alitalia and AirBerlin, said profit was USD$73 million in 2014. Revenue last year was USD$9.02 billion after USD$7.55 billion the previous year.

However, Etihad said in a statement that the 2014 figures were for the stand-alone airline business, making them not strictly comparable to the consolidated 2015 results. It did not elaborate on the difference between the sets of numbers.

The airline carried 17.6 million passengers in 2015, up 19 percent from the previous year.

"Our profitability clearly demonstrates the success of our business strategy, based on organic growth boosted by our partnerships," chief executive James Hogan said.

Revenue passenger kms rose 21.3 percent to 83.2 billion while available seat km grew 21 percent to 104.8 billion.

Etihad, which has 50 codeshare agreements and equity in seven airlines, earned USD$1.4 billion in direct revenue through this partnership strategy versus USD$1.1 billion the previous year. The airline’s cargo volume rose 4 percent to 591,000 tonnes in 2015.

(Reuters)