Etihad under pressure to meet targets
ABU DHABI – UAE national carrier Etihad Airways’ target to break even in 2010 is under “huge pressure”, given the changes in market conditions due to the global economic downturn, chief executive James Hogan said yesterday.
“I haven’t given up. But it’s a tough market and we have to manage it quarter by quarter,” Hogan said at a news conference reported by Gulf News.
“It would all depend on what happens in the coming months. We are bullish [towards achieving the target].”
Hogan said Etihad is aiming for US$3 billion in revenue this year, compared with $2.5 billion in 2008 and hopes to fly seven million passengers in 2009, a 15 percent increase over last year.
He said the airline has targeted an average passenger load factor of 77 per cent for 2009 compared with 75 per cent last year.
The airline would expand its global flight network to 55 destinations as well grow its fleet to 52 aircraft in 2009, said
Hogan, adding that 11 new passenger aircraft were set to join Etihad’s fleet in 2009, which would enable it to launch services to Melbourne (March 30), Istanbul, Athens, Larnaca and Chicago.
Hogan said Etihad plans to start flights to Japan in 2010.
Ian Jarrett
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