JOC Staff | Feb 04, 2013 9:40AM EST
Etihad Airways’ cargo traffic jumped 19 percent in 2012 from the previous year as the Abu Dhabi-based carrier tripled its net profit.
The fast-growing airline boosted profit to $42 million from its first-ever profit of $14 million in 2011 and carried 367,837 metric tons of freight compared with 310,188 metric tons in the previous year, when volume was up 18 percent on 2010.
Revenue grew 17 percent to $4.8 billion, driven by a rapid expansion of routes and equity partnerships and code shares, including a major new strategic relationship with Air France-KLM signed in October.
“This has been a game-changing year for Etihad Airways,” said James Hogan, President and CEO of the eight-year-old airline.
“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.”
Hogan said the freight unit, Etihad Crystal Cargo, continued to play an important role in the carrier’s development, with the 19 percent increase in volume achieved on the back of a 14 percent growth in capacity.
“Etihad Cargo is continuing to outperform the market. We are building strong momentum in international growth markets and through focused customer and product segmentation.”
Etihad will take delivery of one Airbus 330 freighter and two Boeing 777 freighters in 2013.