Etihad Airlines Looks to China and India for Growth

Etihad Airways remains on the lookout for new strategic airline partners, particularly in Asia, as it seeks to maintain the momentum of an expansion that lifted the carrier, based in Abu Dhabi, to its first annual profit ever last year.

“The Asian markets are going to be strategically very important over the next 10 to 15 years,” Etihad’s chief executive, James Hogan, said Thursday. “India and China — these are the markets that people are going to travel from.”

Etihad, which was founded five years ago by the Abu Dhabi government, has expanded aggressively in recent months in a bid to keep pace with its larger Gulf rival, Emirates.

Aviation: Etihad Airways finally turns a profit

For the first time in its eight-year history, Etihad Airways, the national carrier of the United Arab Emirates turned a profit: $14 million. The company’s operations in Pakistan for a big part of its financial success, accounting for between 10% and 12% of its global revenues.

“This is an historic day for the airline and an amazing achievement for an airline just eight years old. Five years ago, we said we would be profitable by 2011,” said James Hogan, President and CEO of Etihad Airways at a press conference in Abu Dhabi on Thursday.

Etihad is the third largest global airline in Pakistan, according to the International Air Transport Association (IATA), bested only by UAE rival Emirates and Saudi Arabian Airlines. Meanwhile, Pakistan is one of the top ten revenue generating countries for Etihad.