Etihad Airways revenue increases 29% in 2014

Abu Dhabi-based Etihad Airways has achieved a total revenue of $1.8 billion for the third quarter of 2014, an impressive increase of 29% year-on-year.

The boost was mainly due to rising passenger demand and cargo growth during the summer, the airline said in a statement.

A total of 3.9 million passengers travelled with Etihad Airways between July and September this year, 30% higher than the three million passengers from the same period in 2013.

"Our focus on organic growth, codeshare partnerships and minority investments in other airlines has continued to produce strong results, despite the prevalence of industry challenges such as volatile oil prices, economic and political instability," said James Hogan, President and Chief Executive Officer of Etihad Airways.

The growth in passenger demand and revenue during the three month period once again outstripped the airline's capacity increase, highlighting the strength of its long-term growth strategy.

"We are confident about sustaining our profitability in 2014 and there are a number of important milestones in the final quarter, including the entry into service of Etihad Airways' ground-breaking Airbus A380 and Boeing 787-9 Dreamliner in our striking new livery," Hogan said.

Following the launch of services to Medina (Saudi Arabia), Jaipur (India), Los Angeles (USA) and Zurich (Switzerland) in the first half of 2014, the airline's frequencies increased on eight existing routes, including Dublin, Athens and Chennai.

The airline's global route network currently includes 110 existing or announced destinations, with flights launching to Phuket this month, San Francisco in November, and Dallas in December.