On Tuesday, the chief executive Etihad Airways said he expects the Middle Eastern airline to break even next year, indicating confidence that the strong recovery in air traffic and fares of the past few months will last.
One of the fastest growing airlines in the world, the six year old company, has so far been funded by the Abu Dhabi government. However, James Hogan told reporters at the Farnborough Airshow that the airlines’ goal of becoming autonomous and profitable is within reach.
The government has given the carrier a mandate to move toward profitability. “Our ability to finance aircraft purchases without government guarantees has proven our strength. We’re hoping to break even in 2011” Hogan said.
In order for Etihad to achieve its goal, the recent recovery in passenger and cargo traffic must continue.
Source: Market Watch