Hogan sees profitability for Etihad by 2010
Etihad Airways expects to be profitable in four years, its new chief executive said on the sidelines of an aviation conference in Abu Dhabi.
The airline, which started operations in 2003, said a surge in air traffic demand in the Middle East would boost revenues.
“The next three years is consolidation and we are targeting 2010 to break even,” James Hogan said.
Middle East demand for air passenger services surged 18.1 per cent in terms of passenger-kilometres last year, the fastest of any region in the world, according to the International Air Transport Association, which represents 250 airlines.
“In the Middle East we have seen double-digit growth and this will continue in 2007,” Hogan told participants at the conference, without being more specific.
In related news, Etihad Airways is to start non-stop flights from Abu Dhabi to Brussels and Toronto from June 1.
Arrival times at Abu Dhabi have been fixed for air travellers from the Belgian capital and Canada’s commercial centre to transfer easily on to many of the popular destinations across Etihad’s fast growing route network, said a statement.