Dubai: Etihad Airways said yesterday its revenue for the third quarter of the year grew 39 per cent to $1.1 billion (Dh4 billion) compared to $785 million in the same period in 2010.

The Abu Dhabi based airline recorded its "strongest ever third quarter" as passenger numbers increased by 18 per cent to 2.25 million compared to 1.9 million in third quarter 2010.

The seat factor, meanwhile, increased 3.8 per cent to 80.7 per cent, which Etihad called the "highest quarterly result" in its history.

The third quarter 2011 numbers take Etihad closer to its goal of breaking even this year. As James Hogan, the airline's chief executive, said in the statement: "Our clear target is to break even in 2011 and this is another big step in the right direction for us. We are well on track to delivering a continuing financial return to our shareholder."

Strong profitability

The airline's passenger revenue increased 32 per cent to $833 million in the quarter over the same period last year while Etihad Crystal Cargo saw its revenue increase 28 per cent to $168 million (2010: $131 million) in the same period.

Meanwhile, with 81 per cent of its fuel hedged for the rest of 2011, the airline's operating costs increased 12 per cent in the quarter, on a 12 per cent rise in capacity, while non-fuel costs rose only seven per cent, Etihad said.

Hogan said these figures contributed to "strong profitability" at an Ebitdar (earnings before interest, tax, depreciation, amortisation and rentals) level and the airline had moved into monthly operating profitability.

"Despite the continuing challenges of high fuel prices and the economic downturn in many of the markets in which Etihad operates, we are seeing strong growth in all our key commercial indicators," he said.

The quarter also saw strong performance across all markets including routes to North America (New York, Chicago and Toronto), Asia Pacific (Bangkok, Jakarta, Kuala Lumpur, Colombo, Manila, Sydney and Melbourne), Cairo, London, Dublin, Athens and Istanbul, Etihad said.

It added that the carrier added six aircraft to its fleet in the last 12 months, enabling it to build greater depth into its schedule and increase weekly frequencies to key markets including Paris, Manchester, Milan, Geneva, Brussels, Bengaluru and Manila.

"Next year we take delivery of another seven passenger aircraft - four Boeing 777-300ER and three A320-200s.

"So the careful, strategic expansion of our global network will continue apace," said Hogan.