Etihad shows profit for second year running

Etihad Airways was profitable again in 2012. The airline’s president and chief executive, James Hogan, made the announcement during his keynote address at the Global Airfinance Conference in Dublin. The 2012 result follows Etihad Airways’ maiden profit in 2011 of US$14 million. During his speech to more than 1,000 delegates in the Irish capital, Hogan added that more details of the airline’s financial results would be released next month. The 15th Annual Global Airfinance Conference includes delegates from the world’s largest airlines, leasing companies, commercial banks, export credit agencies, private equity firms, investment banks, manufacturers, law firms and other aircraft financing organizations. “Etihad Airways has achieved double-digit passenger and revenue growth in recent years and established world-class product and service. This could not have been achieved without the airline earning the confidence of the leading global financial institutions,”Hogan said. “We are set to post our second successive profit which is rare in the current uncertain economic climate and illustrates the impact and success that the Etihad Airways’ unique business model has made.”(http://www.etihad.com)