Etihad says it will add $9.6b to Abu Dhabi economy in 2016

Dublin: Etihad Aviation Group (EAG) and its minority-owned airlines will contribute $9.6 billion (Dh35.26 billion) to the Abu Dhabi economy in 2016, it said on Tuesday.

The Abu Dhabi government-owned group, which includes Etihad Airways, and the equity airlines, will support 91,700 jobs in the emirate, according to research by Oxford Economics, Etihad said in a statement.

The figures include contributions that relate directly to Etihad’s activities and indirect impact relating to activity and employment supported in the supply chain. Etihad and its partners’ combined direct economic contribution will be $7.4 billion this year, with Etihad contributing $6.8 billion.

The total economic impact will nearly double by 2024 to $18.2 billion while there will be a more than threefold increase in the number of jobs supported.

Etihad said the commissioned report “recognises” its “central role” in Abu Dhabi.

“The figures demonstrate the success of Etihad Aviation Group’s equity investment strategy in terms of a positive impact on its home of Abu Dhabi,” the statement said.

Etihad, the Middle East’s third largest carrier, has bought up minority stakes in seven airlines from Australia to Europe to help build a intercontinental network feeding through its Abu Dhabi hub.

Etihad Airways will operate more than 100,00 flights and carry 19 million passengers in 2016, the report said, compared to 17.6 million in 2015.

Partner airlines will carry 2.2 million passengers through Etihad’s Abu Dhabi hub while Etihad and its equity carriers will fly 1.85 million passengers who will visit the emirate.

Etihad released the report in Dublin, Ireland ahead of a major gathering of airline executives this week at the International Air Transport Association’s (IATA) annual general meeting in the Irish capital.

The report did not factor in Etihad’s 25.1 per cent stake in Virgin Australia but did include the other six minority-owned carriers, including Italy’s Alitalia and India’s Jet Airways.

This reporter travelled to Dublin courtesy of Etihad Airways and IATA.