Total cargo tonnage for Abu Dhabi-based Etihad Airways rose 9 percent, year-over-year, in the third quarter of this year, which helped boost overall revenues at the United Arab Emirates flag-carrier by 29 percent.
The carrier’s Etihad Cargo subsidiary shipped a total of 144,498 tonnes in Q3, bringing in revenue of $USD284 million, a 16 percent increase, year-over-year, with just 1 percent capacity growth.
The third quarter at Etihad Cargo also saw the launch of freighter services to Moscow and Hanoi, increased frequencies on its existing freighter service to Milan and the deployment of a new A330-200F. The carrier also began a specialist equine service, called “SkyStables,” for the air transport of horses and other similar species, which rolled out across 44 of Etihad Cargo’s freighter destinations.
Etihad Airways does not report profit figures, but its revenues for the three months ending Sept. 30 reached US$1.8 billion; revenue from code-share agreements and equity partners was US$352 million for 3Q 2014. After carrying 10.5 million passengers and almost 415,000 tonnes of cargo for the first nine months of 2014, the airline said it expects to report its strongest-ever annual results by the end of the year.
“Our focus on organic growth, code-share partnerships and minority investments in other airlines has continued to produce strong results, despite the prevalence of industry challenges such as volatile oil prices, economic and political instability, overcapacity in the market and access constraints,” said James Hogan, Etihad CEO.
Other third-quarter developments at Etihad included the unveiling of a new livery design in September on its first A380 and 787-9 aircraft (to begin service in December), plus the start of service to Yerevan, Armenia; Perth, Australia; and Rome services. Etihad also increased frequencies on eight existing routes, including Dublin, Athens and Chennai, India. More flights are scheduled to launch to Phuket, Thailand, this month, San Francisco in November, and Dallas in December.
Etihad, which has investments in Aer Lingus, airberlin, Air Serbia, Air Seychelles, Jet Airways and Virgin Australia, is currently planning to purchase a 49 percent share in struggling Italian carrier Alitalia. The transaction, subject to regulatory approval, will be worth €1.76 billion (US$2.3 billion).