UAE’s national carrier Etihad Airways reported a 29.2% rise in revenues in 2010 to $2.951 billion from $2.285 billion during 2009.
The growth in revenue significantly outpaced its capacity growth, which saw available seat kilometers rise 19.5% to 45.1 billion (2009: 37.8 billion), said an airline statement.
The result marked continued progress towards the airline’s goal of break-even in 2011 and profitability in 2012, it said.
Passenger numbers topped 7 million for the first time, up 13.1% to 7.099 million, while seat factors increased by 0.5% to 74.0%.
James Hogan, Etihad Airways’ Chief Executive Officer, said: “This is a result to celebrate.  In a year in which we dealt with the continuing effects of global recession, erupting volcanoes, riots in Thailand, and severe weather across Europe at one of our busiest times of year, we were still able to deliver an impressive performance.
“We continued to invest in routes and infrastructure, adding 7 new destinations during the year, as well as welcoming more than 800 new employees.  Yet, we brought our costs down whilst increasing passenger numbers and yield.
Hogan said the outlook for 2011 was strong, with global operating conditions continuing to improve.