Posts Tagged ‘Etihad’


[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



[Telegraph] Etihad is to open a European headquarters in Man­chester, which could lead to the creation of up 300 new jobs in the city.

Etihad has chosen Manchester because of the opportunity to tap into a well-educated pool of graduates with extensive language skills

Etihad has chosen Manchester because of the opportunity to tap into a well-educated pool of graduates with extensive language skills

According to sources at the Abu Dhabi-based carrier, the airline will first set up a major call centre, which will provide around 160 posts.

As well as serving Europe, the centre will provide out-of-hours service for other parts of the world.

Eventually it is anticipated that back-office jobs will also be moved to Manchester, along with engineering jobs. It is understood Etihad has chosen Manchester because of the opportunity to tap into a well-educated pool of graduates with extensive language skills.

Currently, the airline operates two daily services in and out of Manchester, with many of the passengers flying further afield than Abu Dhabi to destinations such as Australia and Far East. Its operation enables passengers from the north to make long-haul flights without having to change planes at Heathrow.

The company currently operates call centres in Abu Dhabi, Mumbai and Dublin, as well as Manchester.

Etihad has already made its presence felt by sponsoring Premiership-chasing Manchester City, in a deal which along with the financial backing of Sheikh Mansour has seen the club able to afford some of the highest profile footballers in the world.

The club’s stadium is known as the Etihad and the airline is also creating a £100m state-of-the-art football campus on the 80-acre site.

Read this story from The Telegraph via Yahoo News….


By David Millward 
Telegraph



Shanghai Airport: An Etihad Airways aircraft that landed at 11:28am from the United Arab Emirates was heading for the terminal and had to stop because of a group of more than 20 angry passengers.

Angry passengers stop Etihad plane in Shanghai

Angry passengers stop Etihad plane in Shanghai

The passengers refused to board an plane at Pudong International Airport in Shanghai then took their protest onto the taxiway to demand compensation for their delayed flight, airport and airline officials said.

Shanghai airport authority said that airport officials quickly managed to persuade the passengers to leave the taxiway and took them back to the terminal. The whole process lasted about five minutes and the incident didn’t otherwise affect flights at the airport.

The airport said the passengers, who are now under investigation, were among 161 people whose flight from Shenzhen, in southern China’s Guangdong Province,  to Nanjing was delayed by poor weather on Tuesday evening.

The Shenzhen Airlines’ Flight ZH9817 had been scheduled to land in the eastern city of Nanjing at 6:50pm and then fly on to Harbin in northeastern China’s Heilongjiang Province at 10pm, said Li Weiqi, an airline spokeswoman. But on the way to Nanjing, the Airbus 320 encountered a thunderstorm and had to land at the Pudong airport at around 8pm.

The airline put the passengers up at a nearby hotel and agreed to arrange other flights the next day to take them to Nanjing or Harbin when the weather cleared, Li said.

“The airline officials have done all that they should do when encountering bad weather,” she said.

Most passengers took another flight to Harbin, while the remaining 40 were due to leave for Nanjing at 11am yesterday, but more than 20 of them refused to board the plane and demanded the company compensate them for the delay, according to the airport. “Since no one was coming up to solve our problem, we decided to rush to the runway,” a man who said he was one of the passengers wrote on his microblog.

He uploaded pictures showing the passengers, carrying their luggage, walking on the taxiway. There were a number of online replies to his post urging the passengers to get back to the terminal, but he responded:

“No way, we are going toward the airplane.” Then he wrote: “Seems like an international airplane has to suffer. We stopped it from moving.”

The passengers’ behavior stirred public anger online with accusations that by acting selfishly the group had put other passengers’ lives in danger. “Trying to block other airplanes just to get some compensation for flight delayed by poor weather?

Shenzhen Airlines later agreed to pay compensation of 1,000 yuan (US$158.5) to each of the passengers on the delayed flight. But the protesters’ victory could be costly. The passengers who went onto the tarmac could be detained for five to 10 days with fines and might face criminal penalties of up to five years in prison under Chinese law, said Liu Chunquan, a senior lawyer with the Panocean Law Firm in Shanghai.

“The passengers should be punished because they have threatened the safety of hundreds of other passengers by rushing onto the runway,” Liu said. The airport should also take some responsibility because its staff failed to stop the passengers from leaving the terminal and entering the taxiway….

Read the full story at ShanghaiDaily.com….


ShanghaiDaily.com
By Xu Chi and Yang Jian | 2012-4-12



Etihad Airways is to increase capacity to London Heathrow and Kuala Lumpur as well as soon starting services to Basra and Lagos.

The United Arab Emirates airline is also to launch a daily service to its first South America destination

The United Arab Emirates airline is also to launch a daily service to its first South America destination

The United Arab Emirates airline is also to launch a daily service to its first South America destination and a new service to Vietnam, as part of its global expansion over the next 18 months.

It now has a worldwide network that stretches across 84 cities in 54 countries.

Etihad Airways reported a 28% cent rise in revenue in the first quarter of 2012 to US$ 989 million over the corresponding period in 2011 and passenger numbers soaring by 500,000 to 2.4 million since the same time last year.

James Hogan, CEO of Etihad Airways highlighted the importance of Etihad’s partnership strategy in boosting passenger numbers in the first three months of the year.

He said: “We are flying with fuller planes across the network and our codeshare partnerships played a major role in this growth, accounting for 18 per cent of our revenues in the quarter.”

See the original story for travelmole.com……


TravelMole
04 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



Ryanair boss Michael O’Leary said he has been approached by companies interested in buying the State’s 25% share in Aer Lingus.

He said he believes Ryanair might end up purchasing the State’s holding.

The low-cost airline has a 29.8% stake in the national airline but was refused permission to take it over in 2007 because it would have given it a near monopoly on flights out of the country.

Ryanair might end up purchasing the State’s Aer Lingus holding

Ryanair might end up purchasing the State’s Aer Lingus holding

At least two airlines are known to be interested in buying into Aer Lingus — Ethiad from the Middle East and JetBlue from the US. The State hopes to net  around €118m from the sale which is part of an agreement with the troika on €3bn  worth of state assets.

Mr O’Leary said Ryanair is happy to work with  whoever buys the State’s share or they could talk to them about selling their  stake. “We have ruled out that we will not sell our stake with the Irish  Government’s, so whoever buys the stake will either have to work with us or buy  our stake if they want to get control of it.”
He said Ryanair had  been approached by about three different airlines and consortia interesting in  buying the Government’s stake…..

Read the full story from The Irish Examiner…..


By Ann Cahill, Europe Correspondent
Friday, March 30, 2012