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Etihad Airways has announced its strongest ever passenger and cargo volumes for a first quarter, together with USD 1.4 billion in total revenues during the three-month period, marking a year-on-year increase of 27%. 

A total of 3.2 million passengers travelled with Etihad Airways during the first quarter of 2014, over 14% higher than the 2.8 million passengers from the same period last year. Etihad Cargo carried 127,821 tonnes of freight and mail in the first quarter, which marks a year-on-year increase of 26%. The airline’s cargo revenue also increased by 26% to USD 243 million, placing Etihad Cargo on track to become a billion dollar business in 2014. 

Etihad Airways’ volumes were boosted by the growth of its international route network, with 95 destinations operational by the end of Q1 2014, an increase of six compared to the same period in 2013. Network highlights in the first quarter included the start of a daily service to Medina, Etihad Airways’ fourth destination in Saudi Arabia, while frequencies increased on six existing routes, including New York in the US, Munich in Germany, Colombo in Sri Lanka, and Chengdu in China. The airline will commence services to eight more destinations over the remainder of 2014, increasing its global route network to 103 by the end of the year. 

Organic growth was supported by the development of codeshare and equity partnerships, which delivered 678,000 passengers onto Etihad Airways flights in the first quarter of 2014, 25% higher than the same period last year. Revenue from codeshare and equity partners rose 23% to USD 223 million, representing 22% of total revenue in the quarter. 

During this period, new codeshare agreements were signed with Air Europa and JetBlue, while an existing codeshare with airBaltic was expanded. Etihad Airways also obtained regulatory approval to acquire a 49% share of Air Serbia. 

Etihad Airways’ fleet expanded to 95 aircraft in the first quarter of 2014, marking an increase of 30% in the fleet size over the same period last year, while the airline’s passenger carrying capacity, measured in Available Seat Kilometres (ASK), increased by 21% year-on-year to 19.2 billion. 

A number of factors contributed to the rapid growth of Etihad Cargo’s revenues in the first quarter compared to the same period in 2013, including stellar performances in the India (+32%) and China (+14%) markets, the launch of new routes to Brazil and Vietnam, and heavy demand for charter solutions. Cargo volumes were also strengthened by the launch of a joint freighter service with DHL, serving Pakistan and the GCC markets out of Abu Dhabi. 

At the close of the first quarter, Etihad Airways employed 18,543 employees, an increase of 69% year-on-year. Part of this significant increase can be attributed to Etihad Airways’ acquisition of Abu Dhabi Airport Services (ADAS), Abu Dhabi In-Flight Catering (ADIFC) and Abu Dhabi Cargo Company (ADCC) in 2013. Within the core airline, 1,516 employees are UAE nationals, 18% more than the same period last year. The Etihad Airways Emiratisation program includes schemes for cadet pilots, engineers and graduate managers. 

Etihad Airways also won four awards in the first quarter, including the Airline Market Leadership Award at Air Transport World magazine's 40th Annual Airline Industry Achievement Awards. 

Source: Etihad Airways