Revenue soaring at Etihad Airways

05/10/2011 - Northern Emirates Property & Investment News Posted by Neil King
Revenue soaring at Etihad Airways

Etihad Airways, the national airline of Abu Dhabi, has recorded a significant rise in revenue over the last three months.Figures for the third quarter of this year show that the carrier has seen its revenue increase by 39 per cent.According to the airline, the jump was driven largely by an increase to its network and rising passenger numbers.The three months to September 2011 saw the firm generate $1.1 billion - up from $785 million in the corresponding period from last year.Chief executive officer James Hogan said in a statement. "Despite the continuing challenges of high fuel prices and economic downturn in many of the markets in which Etihad operates, we are seeing strong growth in all our key commercial indicators."Meanwhile, recent reports have also shown that the oil industry in Abu Dhabi is on the up.Figures published by Emirates 24-7 showed that total income from oil, gas and petroleum products increased from Dh196.6 billion in 2009 to Dh 278.6 billion last year.