By Rory Jones
DUBAI--Abu Dhabi's Etihad Airways on Thursday said full-year
2014 net profit increased 52% as it flew significantly more
passengers and launched new routes across the U.S., Europe and
Asia, despite facing challenges in some markets.
Net profit rose to $73 million last year from $48 million a year
earlier, on revenue of $7.6 billion, the company said.
Etihad said it flew 22% more passengers at 14.8 million last
year while its partnership program with other airlines around the
world, such as Alitalia, Virgin Australia Ltd. (VAH.AU) and Air
Berlin PLC (AB1.XE), added $1.1 billion to revenue.
Etihad said it added 21 new aircraft to run a total fleet of 110
Boeing Co. (BA) and Airbus Group NV (AIR.FR) jets.
The growth came despite facing "unprecedented external
challenges" and a "rise in aggressive protectionist sentiment in
Europe and the U.S.," Etihad Chief Executive James Hogan said.
The state-owned Abu Dhabi carrier has faced criticism this year
from the three biggest U.S. carriers--Delta Air Lines Inc. (DAL),
American Airlines Group Inc. (AAL) and United Continental Holdings
Inc. (UAL). They claim Etihad and its Gulf peers Emirates Airline
and Qatar Airways have received $42 billion in subsidies and unfair
benefits since 2004, including about $17 billion for the Abu Dhabi
airline. All three Gulf airlines deny the claims.
-Write to Rory Jones at rory.jones@wsj.com
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