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Etihad Airways highlights growth over nine years, forecasts revenue of USD10bn by 2017

29-Nov-2012 12:37 PM

Etihad Airways CEO James Hogan, speaking at CAPA's World Aviation Summit in Hong Kong, stated (28-Nov-2012) no airline has grown as rapidly as Etihad in nine years. Mr Hogan said between 2005 and 2012 the airline increased revenue from USD300 million to USD4.9 billion, improved yield from USD0.05 to USD0.08, reduced CASK from USD0.064 to USD0.051, expanded its fleet from nine to 69 aircraft, increased passenger traffic from 1.5 million to 10.6 million p/a and improved load factor from 60% to 79%. Mr Hogan forecast revenue of over USD5 billion in 2012 and revenue of USD10 billion by 2017, by which time the carrier hopes to achieve "sustainable profitability", increase its fleet to 121 aircraft and increase passenger traffic to 21.7 million p/a with a load factor of 78%.