Etihad Airways posted Q1 2013 passenger revenues of US$900 million (2012: US$758 million), an increase of 19%; and cargo revenues of US$193 million (2012: US$165 million), an increase of 17%.
Passenger numbers in Q1 2013 grew by 18%, rising from 2.3 million to a record 2.8 million.
The average seat factor was 80.5%, four percentage points higher than the previous year (2012: 76.5%), despite a 12% increase in capacity. The seat factor is above IATA's current global average of 77.1%.
Etihad Cargo also had its strongest first quarter, with tonnage up 20% from 85,152 to 101,776 tonnes.
“Our Q1 2013 results have again outstripped global trends, with our strongest ever first quarter results for passenger revenue,” said James Hogan, President and Chief Executive Officer of Etihad Airways. “This performance demonstrates that Etihad Airways' strategy of organic growth, wide-ranging partnerships, and strategic equity investments is delivering for us and our partners.”
Revenue from codeshare and equity partners jumped by 34% from US$136 million to US$182 million in the first three months of the year and represented 20% of total revenue in the quarter.
Etihad Airways' available seat kilometres (ASKs) rose 12% in Q1 2013 to 15.9 billion, (2012: 14.3 billion) as the fleet grew to 73 passenger and cargo aircraft (2012: 66 aircraft). Revenue passenger kilometres (RPKs) rose 17% to 12.9 billion (2012: 10.9 billion) out performing capacity growth.
Running counter to industry trends, Etihad Cargo posted new highs in the first quarter. Volumes were up 20% (on capacity growth of 19%). This was driven by a strong performance in North East Asia, combined with good growth from the Indian Subcontinent from mid-February. The new twice-weekly freighter operation from Houston to Abu Dhabi enhanced the results.
Etihad Cargo also took delivery of a new Boeing 777 Freighter, which was deployed on European and African routes during the quarter. A second Boeing 747 freighter entered the fleet at the end of March, taking the total cargo fleet to eight aircraft.
Strong charter cargo results also underpinned the capability and flexibility of the freighter operation.