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Etihad to report profitable EBITDAR for 2010

29-Nov-2010 10:45 AM

Etihad Airways CEO James Hogan stated (27-Nov-2010) the carrier will report a profitable EBITDAR result for 2010, marking an important step forward in the airline's journey towards full break-even in 2011 and profitability in 2012. The 2010 result will be the first time the airline has reported profitable EBITDAR. [more]

Etihad Airways: "With only a month to go, we are well on track for profitable EBITDAR for 2010, marking an important milestone in the commercial development of the airline. Our next goal is full break-even in 2011, leading to sustainable profitability from 2012 onwards. All our indicators show that these targets are in our sights. The growth of Abu Dhabi as a global destination is playing a critical role in our development. The Government's investment in tourism infrastructure, in hotels and attractions, and in the business environment is really paying dividends. Etihad is an airline with ambitious plans for the future. But all of those plans are grounded in solid commercial foundations. Our shareholder expects a return and we will deliver that return," James Hogan, CEO. Source: Company Statement, 27-Nov-2010.

Etihad Airways: "There has been recent interest in the issue of export credit guarantees but for Etihad, this has always been only a small element of our aircraft financing strategy. The large majority of our financing comes from commercial agreements and it is important for international institutions to understand the performance of the business," James Hogan, CEO. Source: Company Statement, 27-Nov-2010.