Etihad still on track to break even despite recent headwinds
Etihad Airways CEO James Hogan stated he still expects the airline to break even this year, despite the civil unrest spreading across the Middle East and rising price of fuel (The Australian, 28-Feb-2011). Mr Hogan stated the airline has fuel hedging systems in place, fuel surcharges have been introduced to offset rising fuel costs and he is looking at further cost control measures. The airline is 75% hedged for fuel in 2011 at just over USD80 per barrel. Yields, load factors and costs are trending in the right direction, according to the CEO.