Posts Tagged ‘Etihad Airways’


[Economic Times] MUMBAI: In what is seen as a step towards closing its proposed investment plans in Jet Airways, Etihad Airways on Wednesday said it has paid $70 million to buy three slots of the Naresh Goyal-promoted airline at Heathrow airport in London.

Etihad, which is in talks with Jet on possibly taking a stake in the firm, said discussions about further investment were continuing.

Etihad, which is in talks with Jet on possibly taking a stake in the firm, said discussions about further investment were continuing. Picture: Wikipedia

“Etihad Airways can confirm that it has concluded a transaction with Jet to purchase Jet’s three pairs of Heathrow slots for $70 million. The purchase is part of a sale and lease back agreement signed yesterday,” Etihad said in a statement.

The statement further said Jet will continue to operate flights to London utilising these slots.

The deal further strengthens the existing commercial relationship between the two airlines, which came into effect in July 2008, making provision for code-sharing, Etihad said.

On the ongoing stake sale talks between the two, Etihad said they continue to progress with discussions about further investment in Jet.

However, on the 24 per cent proposed stake sale toEtihad, Jet sources said, Jet has reportedly agreed to cede more management control, including more board positions to Etihad. However, this could not be officially verified with either Jet or Etihad officials.

This is to enable sealing the deal that has of late hit some air pockets with the UAE-based airline saying that it wanted to re-look at its investment plan in Jet……

Read the full story at The Economic Times of India…..


Economic Times
27th Feb, 2013


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[Times of India] ABU DHABI: Etihad Airways, the fast-growing carrier of Abu Dhabi, posted a 200 percent rise in net profit in 2012 and a 17 percent increase in revenues, the airlines said in a statement Monday.

Etihad posted a net income of $42 million last year compared to $14 million in 2011

Etihad posted a net income of $42 million last year compared to $14 million in 2011. Photo: Wikipedia

Etihad posted a net income of $42 million last year compared to $14 million in 2011 when it made its first ever profit, said the statement which attributed the rise to strong improvements in revenues, passengers and cost control.

The flag carrier of the Emirates capital Abu Dhabi said revenues increased 17 percent to $4.8 billion in 2012 compared to $4.1 billion the previous year.

The number of passengers grew a healthy 23 percent to 10.3 million compared to 8.4 million in 2011, significantly boosted by Etihad’s partnerships which delivered more than $600 million in total revenue.

“This has been a game-changing year for Etihad Airways,” James Hogan, the airline’s president and chief executive officer said.

“We have delivered improved net profit, the second consecutive year we have been in the black, a remarkable achievement given the youth, ambitious growth and ongoing investment made by this airline in a challenging global economic environment,” he said in the statement.

Etihad said it succeeded in building the first “equity alliance” with investments of 40 percent in Air Seychelles, 29.2 percent in airberlin, 9.0 percent in Virgin Australia and about 3.0 percent inAer Lingus.

“We have taken great strides in building the industry’s first equity alliance … which (is) contributing significant value to our business,” Hogan said.

Earnings before interest and tax (EBIT) rose 24 percent to $170 million, while EBITDAR (earnings before interest, tax, depreciation, amortisation and rentals) rose to $753 million, up 16 percent, Etihad said.

Hogan said more than 50 institutions have provided around $6.8 billion in cumulative fundingfor the airline’s ongoing expansion.

Planned fleet upgrades for 2013 include 14 aircraft, with 11 passenger aircraft deliveries and three freighter deliveries, Etihad said.

The orders are for nine wide-bodied Boeing and Airbus aircraft and five narrow-body Airbus aircraft. These will meet Etihad Airways’ immediate growth requirements.

At the end of 2012, the company had 10,656 employees, 18 percent up on 2011 with more than 125 nationalities represented.

Read the original story at The Times of India…..

 


Times of India
Feb 4, 2013



[Gulf Daily News] DUBAI: Abu Dhabi‘s rapidly-growing Etihad Airways has bought a four per cent stake in Virgin Australia, its fourth overseas deal since December as the airline tries to compete with Gulf rivals.

Etihad said it had acquired the 3.96pc Virgin Australia stake for $35.6 million via market purchases over the past few weeks. Photo: Wikipedia

Etihad said it had acquired the 3.96pc Virgin Australia stake for $35.6 million via market purchases over the past few weeks. Photo: Wikipedia

The airline, founded eight-years ago, has already bought stakes in three other carriers in a push to chase the big Gulf state-backed airlines like Dubai’s Emirates and Qatar Airways.

Etihad said it had acquired the 3.96pc Virgin Australia stake for $35.6 million via market purchases over the past few weeks.

“At a point in time, we would like to take it (stake) to a minimum of 10pc, if we get the necessary approvals,” Etihad chief executive James Hogan.

“This is a long game. There’s no race here. We have a 10-year commercial relationship with Virgin Australia. This is just step by step building.”

The Virgin stake shows Etihad’s willingness to make acquisitions to compete with its larger Gulf rivals, which are increasingly challenging European, Asian and Australian carriers on long-haul routes.

Hogan said that the growth strategy is designed to make it the Gulf’s top carrier. He said the airline would take delivery of 100 aircraft over the next eight years but still would not be the biggest airline in the Gulf.

“We believe that by investing and partnering it enables us to extend our network,” he said.

In December, the unlisted airline raised a stake in Air Berlin to nearly 30pc from just under 3pc, for about 73m euros. Last month, it bought a 3pc stake in Irish airline Aer Lingus as a precursor to a commercial tie-up that could…….

Read the rest of this story at Gulf Daily News…..


Gulf Daily News
Wednesday, June 06, 2012



[Arabian-Business.com] Air France-KLM Group, which this weekend announced its operating loss had risen nearly 50 percent to US$785m, is in talks about a commercial pact with Abu Dhabi-based Etihad Airways, an executive at Europe’s biggest airline told Bloomberg News.

The group is highly focused on the negotiations under way. Photo: Wikipedia

The group is highly focused on the negotiations under way. Photo: Wikipedia

Talks about a commercial pact with Abu Dhabi-based Etihad Airways are continuing, Air France-KLM Group’s chief financial officer Philippe Calavia said in a conference call, Bloomberg reported.

However, Bloomberg said reaching a final agreement would be tough and there’s no prospect of a deal within weeks.

Etihad Airways, which recently bought stakes in Ireland’s Aer Lingus, Air Seychelles, Air Berlin, was not immediately available for comment.

Air France-KLM Group said its first- quarter loss widened as fuel costs and a drop in freight volumes wiped out benefits from gains in passenger traffic, increasing pressure to secure cost cuts from unions by a June deadline.

The operating loss widened to……

Read the full Bloomberg story at ArabianBusiness.com


By Shane McGinley
Sunday, 6 May 2012


 


[AFP Paris] Etihad Airways, the United Arab Emirates carrier said Tuesday it has acquired a 2.987 per cent stake in Irish airline Aer Lingus.

About 8.3 million passengers traveled on Etihad Airways last year: (Al Arabiya News)

About 8.3 million passengers traveled on Etihad Airways last year: (Al Arabiya News)

Etihad said the “purchase reflected its desire to forge a commercial partnership with the Irish national carrier,” adding that “a possible partnership could produce significant commercial benefits for both airlines.”

The airline did not give financial details of the deal nor say where it had acquired the shares from. The Irish government holds 25 percent of Aer Lingus but earlier this year said it wanted to sell its stake.

Low-cost pioneer Ryanair has a 29-percent stake in its Irish rival.

Aer Lingus said in a separate statement that Etihad had agreed not to increase its holding in the company without prior discussions between the two. Additionally, it said that the two airlines were discussing the possibility of code-sharing, talks which might be extended to include shared purchases so as to save costs.

Etihad operates 10 flights a week from Abu Dhabi to Dublin and has carried more than 750,000 passengers between the two capitals since it began flying the route in July, 2007.

It has boosted its profile in Ireland and recently renewed its sponsorship of the Gaelic Athletic Association, which promotes Irish traditional sports, in a five-year deal.

Etihad, which is owned by the Abu Dhabi government, carried 8.3 million passengers last year and serves 84 passenger and cargo destinations in the…..

Read the full story at Al Arabiya News


By AFP, Paris
1st May ,2012



Passenger traffic through Abu Dhabi International Airport rose more than 21 per cent in the first quarter of this year over the same period last year.

More than 3.4 million passengers passed through the airport during the first three months of 2012

More than 3.4 million passengers passed through the airport during the first three months of 2012

More than 3.4 million passengers passed through the airport during the first three months, with more than a third of those flying last month, said Abu Dhabi Airports Company (ADAC), the Abu Dhabi Government-owned operator of the emirate’s airports.

“The first quarter of this year has proven to be yet another successful period for Abu Dhabi International Airport,” said Harib Al Hameli, the vice president of operations for the airport. “The double-digit growth in the number of passengers reflects the level of attraction the emirate holds as a soaring business and tourism destination in the region, and the dynamic developments of Etihad and other airline partners.”

On the basis of the first-quarter results and the increased aircraft movement and passenger traffic projected for the rest of the year, 2012 looks set to be another record year, Mr Al Hameli said. A total of 29,123 flights went through the airport during the first quarter, Adac said. Cargo traffic rose 11 per cent during the period versus last year’s first quarter.

The pace of the rise in passenger traffic quickened last month, as 1.2 million travellers used the airport, 22 per cent more than in the same period last year. To accommodate the growing number of passengers, Adac is pushing ahead with the long-delayed Midfield Terminal. Work is expected to start this year on the structure, which will be capable of handling between 27 million and 30 million passengers a year by its scheduled opening in 2017….

Read the full story at Albawaba Business….


Published April 22nd, 2012
via Syndigate.info



Qatar Airways plans to start flights to Atlanta, Chicago, Boston and Detroit within the next year, doubling its US network, as the carrier begins receiving Boeing 787 Dreamliners.

“Qatar Airways is in the midst of a very aggressive expansion plan," said CEO Al Baker.

“Qatar Airways is in the midst of a very aggressive expansion plan," said CEO Al Baker.

A daily New York service will also be increased to three flights a day, with the addition of links via cities in Eastern and Western Europe, CEO Akbar Al Baker said yesterday (April 12th) in Montreal. The airline has daily flights to Washington and Houston.

“Qatar Airways is in the midst of a very aggressive expansion plan.”  Mr Al Baker said, “The only thing that stopped us from going earlier is the delayed delivery of the 787s,” he said about the US flights.

The carrier has placed orders for 60 Dreamliners as it works toward boosting its global network to 170 destinations from 113 over three years. Like Dubai-based Emirates Airline and Etihad Airways, the carrier is using a Middle East hub to link markets in Asia, Europe and the Americas.

Qatar Airways also plans to resume services to Rangon, Myanmar in October, Mr Al Baker said. The carrier’s order backlog also includes 60 A350s and 10 A380s made by Airbus SAS.

Read the full Bloomberg story here at Arabian Business News….


By Bloomberg‘s Frederic Tomesco in Montreal
Sunday, 15 April 2012



Revenues at Etihad Airways increased 28 percent in 1Q2012 to US$989m, it was announced today, signifying the UAE carrier’s best ever quarterly performance. During the three-month period ending March 31, the Abu Dhabi-based operator also carried 2.4m passengers, an increase of 500,000 compared to the year ago quarter.

Revenues at Etihad Airways increased 28 percent in 1Q2012

Revenues at Etihad Airways increased 28 percent in 1Q2012

Etihad also said it was launching a new services to as-yet unnamed destinations in South America and Vietnam next year.

CEO James Hogan, presenting the results at a roundtable event today, said the performance was “the best quarter in terms of revenues” the company has had.

CEO James Hogan, presenting the results at a roundtable event today

CEO James Hogan, presenting the results at a roundtable event today

Hogan claimed that based on the latest revenues Etihad was on track to become a US$5bn per year company by the end 2012.

“Despite tough economic times we believe our business model of organic network growth combined with codeshare partnerships and strategic equity investments will enable us to continue to prosper and ensure sustainable profitability,” Hogan added.

Revenues derived from air cargo operations were up 12.2 percent to US$159m during the quarter, Hogan said.

However, he also warned of the impacts of fluctuations in fuel costs on Etihad’s future performances.

“Fuel prices are are our largest variable cost and they were tracking higher than 2011. We remain committed to an active fuel hedging strategy. 80 percent of our first quarter’s fuel costs were hedged and we currently have 74 percent of fuel costs hedged for the rest of 2012,” Hogan added.

Etihad posted its first ever profit in February 2012, when it reported a full year net income of US$14m for 2011, based on a 36 percent increase in revenues to US$4.1bn.

Read the full story at arabianbusiness.com…..


By Claire Valdini – arabianbusiness.com
Tuesday, 3 April 2012