Etihad Airways reported profitable earnings before interest, taxation, depreciation, amortisation and rentals (EBITDAR) for 2010, said Chief Executive Officer James Hogan, marking an important step forward in the airline’s journey towards full break-even in 2011 and profitability in 2012.This will be achieved despite heavy investment in new routes, fleet and infrastructure. All indicators show that these targets are in sight.
Mr. Hogan was speaking at a financial road-show event in London, attended by more than 170 representatives of banks and other financial institutions. This road-show was a part of the airline’s regular interactions with the international financial community. Etihad laid out its business strategy for the future highlighting its commercial performance since its inception seven years ago.
Mr. Amer N. Khan, Country Manager, Etihad Airways Pakistan added that; “Our team in Pakistan is proud to play a vital role in the overall development and ensuring healthy profit for Etihad Airways. He further added that the growth of Abu Dhabi, both as a global tourist and business destination, is playing a critical role in our development. Our shareholders expect a return and we will deliver that return.”
Etihad’s financial road-shows are part of the airline’s commercial fund-raising program and Etihad regularly updates the financial community on the performance of the business.