Etihad : altri 6 mesi da record

[kenyaprince]

Etihad reports another 6 months' record double-digit growth; 20% of revenues from partnerships

Since reporting its maiden profit in 2011, Etihad Airways' financial results have shown steady and solid growth, even in the face of less than certain global economic conditions. The carrier’s 1H2013 results suggest the strength of its ‘equity alliance’ strategy, with the airline recording record double-digit growth in the period, with a particularly strong contribution from its partner airlines.
Revenue is at record levels, but the carrier only discloses bottom line results on an annual basis.
Etihad reported 2Q2013 passenger revenue of USD921 million, up 8% year-on-year. 1H2013 passenger revenue growth was even stronger, up 13% year-on-year to USD1.8 billion. Overall, total revenue (including cargo) grew to USD2.5 billion for the first six months of 2013, an increase of 14%. Of this, Etihad's partnership revenue comprised 20% of total passenger revenue in both periods.

Etihad's alliance-agnostic partnerships are generating increasingly strong returns

The carrier’s equity and codeshare partners – now numbering more than 40 airlines and the French rail operator SNCF – generated USD184 million in passenger revenue in 2Q2013, around 20% of total revenue. Partnership revenue in the quarter was up 25% year-on-year. This was similar to the 1Q2013 performance, when its partners generated USD182 million in revenue, an increase of more than a third over the previous corresponding period.
A cornerstone of Etihad's expansion strategy has been its inter-airline relationships. Here it has been a trail-blazer in both the breadth and the nature of its agreements. The partnerships are showing solid bottom line returns, according to the carrier. In this process, it is creating its own ego-centric grouping, structured in such a way as to open up separate markets, allowing penetration behind the initial foreign gateways.
Significantly, the pursuit of this strategy has largely ignored the demarcations previously placed around the longer-standing global alliances. Thus, while its first large equity investment, in Air Berlin, involved a oneworld airline, most of its financial partners are independents.
However, more recently, following a form of reconciliation of convenience with Air France - previously the Gulf airlines' loudest detractor - Etihad has also moved towards closer links with SyTeam's KLM and Kenya Airways. Yet this has occurred almost simultaneously with new agreements with Star Alliance's South African Airways and Air Canada, also previously a major opponent of the UAE's role in aviation.

The strategic bottom line is that, as its influence spreads, Etihad is increasingly able to be selective in its partnerships...​

The strategic bottom line is that, as its influence spreads, Etihad is increasingly able to be selective in its partnerships, allowing it to gain increasingly better coverage of diverse markets.
During 2Q2013, Etihad entered a new codeshare deal with Jat Airways and announced new partnerships with Air Canada, South African Airways and Belavia, all to take effect during 2Q2013. It also expanded codeshares with carriers including KLM, Air France, Aer Lingus and Alitalia. With the latest additions, Etihad Airways will expand its number of codeshare partners to 45 and boasts a “virtual global network of more than 350 destinations, the most comprehensive of any alliance or Middle Eastern airline.”
The new routes and codeshare partnerships have added 42 destinations to Etihad Airways’ network over the past 12 months.
Etihad Airways' equity partners are Aer Lingus, Air Seychelles, airberlin and Virgin Australia. Formalisation of a major equity deal with Jet Airways is also imminent, although final approval is subject to the complex wheels of Indian bureaucracy. During 2Q2013, Etihad Airways also signed an initial MoU with the Serbian Government to discuss potentially investing in JatAirways.
See related report: Etihad partnership strategy evolves further as joint purchasing with airberlin and Jet is pursued
Etihad Airways’ equity partnerships

Carrier	Ownership stake	Initial agreement	Codeshare routes	Other details
Aer Lingus	01-May-2012	Reciprocal frequent flyer programmes; Discussing further integration of loyalty programmes; Exploring other commercial and cost opportunities to develop a closer working relationship in areas such as joint procurement; Share purchase reflects a desire to forge a commercial partnership; Exploring more codeshare opportunities but will not increase stake until codeshare relationship discussions are complete;
AirSeychelles	25-Jan-2012	Etihad provided a USD25 million shareholders' loan to meet working capital requirements and support network development; Five-year management agreement, focused on implementing strategic measures to encourage the long-term commercial growth of Air Seychelles; Air Seychelles now has a presence in Etihad Airways offices; Consolidation of key functions at Air Seychelles, resulting in significant cost savings and process optimisation; Aviation training provided for Air Seychelles; Developing renewed fleet and network growth plan for Air Seychelles.
airberlin	19-Dec-2011	Strategic partnership agreement. Codeshare agreements with the airberlin Group for all European activities includingNIKI and Belair; Reciprocal frequent flyer programmes; Etihad acquired 70% of Air Berlin's topbonus FFP for EUR200m Joint procurement taskforce to examine cost efficiencies across the two companies; Considering joint 787 order.
VirginAustralia	Feb-2010	Initial stake incrementally built up to 10%; Full strategic agreement, including revenue sharing, fully reciprocal frequent flyer programmes and airport lounge access; Codeshares cover destinations in Australia, New Zealand, the Pacific Islands, Asia and the US; Etihad interested in larger stake following closure of Jet Airways deal, has regulatory approval to lift its stake from 10% to 19.9%.
Jet Airways*	24-Apr-2013*	USD379 million agreement signed for the purchase of a 24% shareholding; Agreement includes USD70 million to purchase Jet Airways’ three pairs of slots atLondon Heathrow Etihad also purchased a majority equity investment in Jet Airways’ frequent flyer programme for USD150 million; Expanded codeshares on flights with reciprocal frequent flyer benefits; Explore joint purchasing opportunities for fuel, spare parts, equipment and catering supplies, as well as external services such as insurance and IT support.
JatAirways*	17-Jun-2013**	Initial MoU for equity investment in JatAirways; Requires due diligence and is subject to regulatory and board approvals; Carriers will intensify discussions about collaborative efforts to further integrate their networks and help JatAirways achieve efficiencies, build revenue, and reduce costs.

[TD="align: center"] 3%[/TD]

[TD="align: center"]18[/TD]

[TD="align: center"]40%[/TD]

[TD="align: center"]4[/TD]

[TD="align: center"]29%[/TD]

[TD="align: center"]55[/TD]

[TD="align: center"]10%#[/TD]

[TD="align: center"]73[/TD]

[TD="align: center"]24%*[/TD]

[TD="align: center"]9^[/TD]

[TD="align: center"]Not announced[/TD]

[TD="align: center"]23**[/TD]

Source: CAPA – Centre for Aviation
#Approval received from Australian authorities to increase to 19.9%
*Awaiting Indian regulatory approval
^ Initially, between India and Abu Dhabi. Number of codeshares west of Abu Dhabi and east of India still to be announced
**Awaiting regulatory approval
Etihad Airways president and CEO James Hogan said the reported growth “reflects not only the continuing popularity of our Abu Dhabi hub, but the growing maturity of our airline partnership strategy and the strength of our cargo operations”. Mr Hogan also noted that a significant achievement in the second quarter was the improved contribution of the equity alliance partners, particularly airberlin, which has become the largest codeshare contributor.
Despite rapid organic expansion and new routes, load factors held steady

Etihad has also continued to grow rapidly in its own right. Passenger traffic (as measured in RPKs) increased 13% in the second quarter and 15% for the first half of the year. Capacity (as measured in RPKs) also rose 13% for 1Q2013, and 12% for 1H2013, driven by the delivery of new aircraft and opening of new routes.
Etihad Airways increased its network by adding new services to Amsterdam, Sao Paulo and Belgrade and adding more capacity to Washington DC late in Mar-2013. Despite the expansion, load factors weakened only slightly in the second quarter, down 0.3 ppts to 77.3%
20% cargo revenue increase goes against world trends

The carrier's headline passenger revenue figures were underlined by strong growth in cargo traffic. Cargo revenue rose 20% to USD216 million for the first quarter. 1H2013 cargo revenue was up 19%, to USD411 million. 2Q2013 saw a significant expansion for the carrier’s freight fleet.Etihad Cargo handled 112,963 tons of cargo in 2Q2013, an increase of 25%, and 215,124 tons in 1H2013, growth of 23%.
The cargo traffic growth is particularly notable in contrast to the global trend. According to IATA’s Jun-2013 industry forecast, global cargo revenues are expected to be static for 2013. In the association’s May-2013 traffic report, IATA’s director general and CEO Tony Tyler labelled air cargo as a market in “suspended animation at the moment”.
By comparison, cargo growth in the Middle East is one of the air freight industry’s few bright spots.
International vs Middle East freight tonne kilometres: 2010-2013

Source: CAPA – Centre for Aviation and IATA
The cargo growth was also aided by a rapid expansion in new aircraft capacity. Etihad took delivery of three new freighter aircraft – an A330-200F, a 777-200F and the company’s first 747-8F (wet leased from Atlas Air) – increasing the overall freighter fleet to nine aircraft. Increased bellyhold capacity from the carrier’s expanding passenger operations also supported the expansion.
Etihad’s fleet expanded to 78 aircraft by the end of 2Q2013, 11 more than at the same point in 2012. According to the CAPA Fleet Database the carrier took delivery of eight new aircraft in 1H2013 and is due to take delivery of another four aircraft – two A320s and two 777s – over the second half of the year.
Etihad Airways fleet deliveries 1H2013

Delivery date	Status	Aircraft type
22/01/13	Delivered	777-300ER
30/01/13	Delivered	777F
20/03/13	Delivered	777-300ER
2/04/13	Leased	747-8F
9/05/13	Delivered	777F
29/05/13	Delivered	A330-200F
29/05/13	Delivered	777-300ER
25/06/13	Delivered	777-300ER

Source: CAPA Fleet Database
Consolidating on a winning strategy, for Etihad and for Abu Dhabi

Etihad’s latest traffic and financial figures show an airline that is consolidating on its three tier strategy of rapid organic growth, selected codeshares and strategic investments to expand its global reach. The partnership strategy combines not only enhancements for the carrier’s headline revenue figures, but delivers improved bottom line results, through cost savings delivered by operational synergies.
With its ‘virtual network’, Etihad Airways seeks to minimise risks inherent in expansion, while the prospect of an equity partnership is a powerfully attractive option for the carriers it has primarily targeted. For Etihad, the equity partnerships allow it to gain access to behind gate markets across the world without needing to deploy its own assets or aircraft.
In doing so it in some ways mimics the process of entering the formal alliance network where larger and much longer established airlines tend to dominate strategic directions. The advantage of Etihad's more tailored and ego-centric approach is however to allow it to be much more specific in its targeting of each market. The centricity of Etihad also allows it to put propositions to its partner airlines that are much more compelling than in the more diffuse global alliance partnerships. In particular, an area where the global alliances have struggled is in using the potential group buying power to acquire big ticket items.
Etihad meanwhile is moving ahead with joint purchasing of aircraft, where, despite a willingness to operate the same aircraft type, global alliance members typically disagree on configurations and fitouts, undermining the rationale for joint moves. The outcome should be therefore to provide increasingly seamless operation between the partners.
These partnerships also funnel traffic through Abu Dhabi, increasing the emirate's attractiveness as a hub and contributing to the overall economic prosperity. Abu Dhabi Airports Company continues to register double-digit growth in traffic, and ever increasing spend per passenger.
See related report: Gulf airlines refine their respective US strategies after solid expansion during the last year
Abu Dhabi International Airport traffic growth: 2011-2013

Source: CAPA – Centre for Aviation and Abu Dhabi Airports Company
Etihad’s chief strategy and planning officer noted in Jun-2013 that the carrier will continue to add “breadth, depth and scale” to its expanding global route network, offering significantly improved connection opportunities through its Abu Dhabi home base. As the carrier continues to add partnerships and makes more investments, the scale of its operations generate synergistic benefits.
Etihad does however appear to be fashioning an equity profile that delivers value both to itself and to its partners...
The carrier is ahead of the field in terms of the number and extent of its equity investments; this appears to be an appropriate model for the time, but there are risks inherent in such arrangements. In the past the concept has not fared well. Etihad does however appear to be fashioning an equity profile that delivers value both to itself and to its partners. This, added to the fact that in several of the relationships Etihad is in a position seemingly to influence outcomes in ways that have substantial mutual benefits, should help anchor the relationships.
The Abu Dhabi-based carrier may not yet be in a position to challenge its regional competitors Qatar Airways and Emirates in terms of organic capacity, but its collaborations are building the fastest growing carrier in airline history. And, in doing so, establishing an alliance model appropriate for today's aviation environment.

 

[kenyaprince]

Etihad partnership strategy evolves further as joint purchasing with airberlin and Jet is pursued

Etihad Airways is looking to take its alliance and partnership strategy another step forward by negotiating a potential joint aircraft order. The joint purchasing of aircraft and other smaller products such as seats on the new 787 could provide some of the carriers that Etihad has invested in an economy of scale that otherwise would be unobtainable.
Etihad currently has codeshare partnerships with 43 carriers. Joint purchasing will likely be limited to some or all of the five carriers that are now partially owned by Etihad. So far negotiations with aircraft manufacturers have included airberlin, Air Seychelles and Jet Airways with Aer Lingus and Virign Australia potentially joining the discussions later. Other airlines that Etihad buys into in future could also join later but for now Etihad is not looking to expand its investment portfolio.
Etihad has emerged as a leader in building up partnerships outside the main global alliances. The Etihad alliance and similar initiatives by other non-aligned carriers have become a viable alternative to global alliances. A joint aircraft order would provide an example of the Etihad alliance even providing a significant benefit that global alliances have so far not been able to offer.

Joint aircraft order with Airbus and Boeing is in the works

Over the years the three global alliances have all talked up the concept of joint aircraft orders and other types of joint purchasing. But so far very little has come to fruition. Even relatively small initiatives for aircraft seats and IT platforms have resulted in participation from a minority of members.
The reality is global alliances are too loose and too big for members to be able to come to an agreement on product specifications. A smaller group of closely aligned carriers presents a much easier proposition for joint purchasing. Perhaps the only successful example of a joint order was placed in 1998, when Latin American carriers LAN, TAM and TACA got together to order 90 A320s.
The three carries are now part of Latin America’s two largest airline groups but at the time they were too small to have much leverage in aircraft negotiations. Etihad, airberlin and Jet Airways are relatively big and are of similar size. But all have local rivals which are bigger – and in some cases much bigger.
Combined, the trio has a fleet of 276 aircraft with another 192 on order, according to the CAPA Fleet Database. This provides a scale that only the world’s largest airlines and airline groups can enjoy. Air Seychelles is particularly tiny, with a fleet that consists of only two jets and five small turboprops.
Etihad CEO James Hogan revealed during a media briefing at the IATA annual general meeting in Cape Town in early Jun-2013 that Etihad is in the “early days” of discussing a potential joint aircraft order. Talks with Airbus and Boeing involving executives from Etihad, airberlin and Air Seychelles took place at Cape Town.
The four carriers are looking at a wide variety of types for deliveries starting in 2020 and going through 2040. Mr Hogan said Aer Lingus and Virgin Australia are aware of the discussions and “if they wish to engage they can”.
Etihad, airberlin and Jet Airways forge joint contracts related to 787

The possibility of a joint aircraft order follows airberlin and Jet Airways joining Etihad in several supplier deals related to Boeing 787s. Mr Hogan says the three carriers have come together to forge joint deals on seats, in-flight entertainment systems, engines and maintenance. The three carriers will also share a simulator in Abu Dhabi and pool rotables and components.
The deals give airberlin and Jet access to economies of scale they would not otherwise have on the 787, thereby reducing costs. airberlin and Jet have only 15 and 10 787s on order, respectively. Etihad has a larger order for 41 aircraft, with deliveries starting in late 2014.
In addition to resulting in lower costs for the three carriers, the deals will give airberlin, Etihad and Jet a common on-board product across their 787 fleets. Etihad is using the 787 and A380, which it will also start taking in late 2014, to introduce a new premium product that over time will be introduced across its entire fleet and is aimed at setting a new standard in the industry. To be able to share this product with two of its most important partners will give Etihad a potential advantage in attracting corporate customers, particularly given the importance of Etihad's virtual network.
Having Etihad, Jet and airberlin offer a standard long-haul product is also important from a passenger experience perspective given the extensive codesharing between the carriers and the fact that airberlin and Jet operate alongside Etihad in Abu Dhabi. Etihad also recently wet-leased three Jet widebodies and is looking at how to re-deploy assets across the group depending on the time of year as each carrier has different peak seasons.
With the interior, including seats supplied by B/E Aerospace, airberlin and Jet are leveraging a product which Etihad worked three years to define. Within just a few months airberlin and Jet were able to join Etihad with the same interior. Negotiating such deals at the global alliance level would have taken years and been challenging to conclude.
Etihad partnership strategy has evolved rapidly

The rapid progression to joint purchasing comes less than two years after Etihad began to cement partnerships with equity stakes. Etihad’s first move in its investment strategy came in 2011, when it purchased a 29% stake in airberlin. A 40% stake in Air Seychelles, 3% stake in Aer Lingus and 10% stake in Virgin Australia followed in 2012. Etihad’s latest and perhaps most important move to date came in Apr-2013, when the carrier acquired a 24% stake in Jet Airways.
See related reports:

• Etihad jolts the status quo again – Jet Airways and (wait for it) Air Canada are its latest partners
• Etihad Airways gets springboard into Northern Europe with 2.9% stake in Aer Lingus
• Etihad Airways stake in Air Seychelles gives ‘realistic way forward’ to the island carrier’s future
• Etihad moves on Air Berlin and the world’s aviation axis shifts

Aer Lingus is a less likely participant in the potential joint order given the smaller partnership and much smaller equity stake Etihad has with the Irish carrier compared to the others in its investment portfolio. Virgin Australia participation is complicated by the fact that Etihad now has smaller stakes in the carrier than Star Alliance members Air New Zealand (ANZ) and Singapore Airlines (SIA).
In recent months SIA made moves to increase its stake in Virgin Australia from 10% to 19.9% while ANZ increased its stake from 20% to 23%. Etihad’s stake in Virgin Australia is now slightly less than 10%.
See related report: Singapore Airlines cements is partnership with Virgin Australia, joining ANZ and challenging Etihad
Etihad’s focus turns to India and Jet Airways

Etihad previously stated a desire to increase its stake in Virgin Australia to about 20%. But ANZ and SIA swooped in as Etihad was rightly focused on completing its deal with Jet, which Mr Hogan said took several months to negotiate.
“Sometimes you need to make choices in business. The focus on India has been very important for us,” he says. “Strategically the Jet Airways deal is important”.
Indeed the potential synergies with Jet are far greater than with Virgin Australia. India is a huge market for Etihad and the deal with Jet came with a breakthrough bilateral agreement that will open up more traffic rights for both carriers. Etihad now only serves nine destinations in India but the new Etihad-Jet combination will link Abu Dhabi with 23 Indian destinations, opening up several fast growing and under-served secondary cities.
India is a particularly big market for Etihad from the US. This market will become even bigger as Etihad adds more Indian destinations as a result of its partnership with Jet and as a US customs pre-clearance facility opens in Abu Dhabi.
US pre-clearance facility at Abu Dhabi gives Etihad (and Jet) huge advantage

Pre-clearance, which enables flights from Abu Dhabi to land in the US as a domestic flight, will give Etihad a competitive advantage as it will be the only such facility in the Middle East or Asia. It is such a big advantage that competitors have been lobbying against the facility opening, claiming it creates an uneven playing field. But Mr Hogan is confident the facility will open in Dec-2013 or Jan-2014. “It makes the hub even more attractive,” he says.
Etihad currently serves three US destinations – Chicago O’Hare, New York JFK and Washington Dulles. These are all big markets for traffic to and from India. The Abu Dhabi-Chicago and Abu Dhabi-New York markets will see a big boost of capacity as Jet starts to route its US flights via Abu Dhabi instead of Brussels. Mr Hogan expects Jet to begin operating Abu Dhabi-Newark in late 2013 followed by Abu Dhabi-New York JFK and Abu Dhabi-Chicago O’Hare in 2014.
Mr Hogan says Etihad also plans to launch a fourth US destination in 2014. Etihad currently has a smaller network in the US than rivals Emirates,Qatar and Turkish Airlines. But the new pre-clearance facility and its new partnership with Jet gives Etihad two reasons to focus more on US expansion as it more than doubles its fleet over the next seven years.
Etihad’s US codeshare partner, American Airlines, will also benefit as domestic connections at American’s New York and Chicago hubs become more appealing following the opening of the pre-clearance facility. Etihad currently codeshares to more than 50 American-operated destinations from Chicago and to about 20 American-operated destinations from New York JFK.
American dropped service to India in 2012, leaving an opportunity for the strong Etihad-Jet duo, with American providing important offline access to destinations throughout North America. American is Etihad’s second biggest codeshare partnership after Virgin Australia in terms of number of destinations.
India and South Asia is not the only market which will benefit from the new pre-clearance facility. Quick connections are already available from Etihad’s Americas network, which also includes Toronto and now Sao Paulo, to Southeast Asia, Africa, the Middle East and the Central Asia/CIS region. Etihad currently serves over 30 destinations in Asia-Pacific, 13 in the Middle East and nine in Africa, according to Innovata data.
Etihad network summary: as of 26-Jun-2013

Source: CAPA – Centre for Aviation & Innovata
Australia remains important to Etihad

Mr Hogan says Etihad has even seen an influx over the last couple of years of passengers travelling between Australia and New York via Abu Dhabi. He expects the US pre-clearance facility will lead to a further increase in Australia-US traffic, including to Washington Dulles which Etihad launched in Mar-2013.
Etihad has attracted Melbourne/Sydney-New York passengers even though it is faster to fly via the US west coast partly because Abu Dhabi is an easier hub to transit. The addition of the pre-clearance facility will makes for even easier connections between the two markets.
Western Australia to the eastern US can be faster via the Middle East than Los Angeles. But Perth is not currently served from Abu Dhabi.
Australia is an important market for Etihad but India is of much more strategic significance. About 13% of Etihad’s capacity is now allocated to South Asia, a figure which will grow significantly as the Indian network is expanded. Australia in comparison accounts for less than 5% of Etihad’s seat capacity.
Etihad capacity share (% of seats) by region: 24-Jun-2013 to 30-Jun-2013

Source: CAPA – Centre for Aviation & Innovata
Etihad currently only serves three Australian destinations and only two non-stop from Abu Dhabi, Melbourne and Sydney. Brisbane is still served via Singapore, which puts Etihad at a disadvantage as Emirates serves Brisbane non-stop as well as operating a second flight to Brisbane viaSingapore. Emirates also serves Perth and Adelaide – two markets not yet served by Etihad.
Etihad serves Perth via a codeshare with Garuda. But this provides a less competitive two-stop product from Europe and North America. Mr Hogan says Etihad will eventually serve Perth on its own but for now is content with the Garuda partnership.
Etihad also has no plans to serve Brisbane non-stop. Etihad leaves the rest of Australia as well as New Zealand to connections with Virgin Australia.
The carrier remains bullish on the Australian market, pointing to its average 80% load factor on Australian routes and saying that it has seen no impact on bookings following the implementation of the new Emirates-Qantas partnership. In fact Etihad sees the Emirates-Qantas partnership helping further educate Australians about the faster and larger number connections to Europe available via the Gulf.
So far Etihad has seen stronger inbound traffic to Australia from Europe, leveraging its large European network and codeshares with multiple European carriers (all of which use Etihad to serve Australia). Stronger point of sale traffic in Australia will develop over time but for now Etihad has no problem filling up its Australian flights primarily with Europeans.
Africa and Latin America are latest focuses in Etihad's drive for more partners

Etihad is not as big and ambitious from a network perspective as Emirates. It is also much younger, which explains Etihad’s smaller size. But Etihad has come a long way in building global reach through partnerships, some of which it has cemented with equity stakes.
Etihad has looked at equity stakes in other carriers, including Virgin Atlantic Airways. Mr Hogan says Etihad “came close” to acquiring a stake in Virgin Atlantic Airways during six months of negotiations with the Virgin Group. But for now Etihad is content at focusing on further building its partnership network, with new and existing partners, without making additional investments.
Mr Hogan points to the recent developments with new partners in Africa, which have significantly improved Etihad’s virtual network in the important growth region. A codeshare partnership was forged in Feb-2013 with Kenya Airways, providing Etihad with a new hub in East Africa. A codeshare partnership with South African Airways was forged in May-2013. “Overnight that transformed our footprint in Africa,” Mr Hogan says.
See related report: Kenya Airways-Etihad alliance will create a powerful force in Eastern Africa, challenging Ethiopian Airlines
Etihad previously only had a partnership in place with Royal Air Maroc covering 14 destinations in North and West Africa. The new partnerships in Southern and East Africa were critical as Etihad does not have as strong of an online network in Africa as its competitors.
The carrier currently has eight destinations in Africa and the region accounts for only about 7% of its total capacity. Half of the carrier’s African destinations are in North Africa. Etihad has only one destination in West Africa (Lagos), one in Southern Africa (Johannesburg) and two in East Africa (Addis Ababa and Nairobi).
Etihad network map: as of 26-Jun-2013

Source: CAPA – Centre for Aviation & Innovata
The Etihad Alliance is poised to next expand in Latin America. Adding a codeshare partner from Latin America is key as Etihad does not have any short-term plans to serve the region beyond its recently launched service to Sao Paulo. Etihad is also not interested in following Emirates, Qatar and Turkish in operating tag flights within South America.
Following its strategy in other regions, Etihad will rely heavily on partners and a virtual network to tap into the fast growing Latin American market. “This strategy is firstly about network,” Mr Hogan says. “It’s how we create reach globally.”
Partnerships are key to Etihad’s success

The strategy seems to be working as Etihad is again on track to be profitable in 2013, which would give the carrier three consecutive years of profits. Etihad turned a net profit in 2012 of USD42 million, three times the USD14 million profit it made in 2011.
Revenue at the airline rose 17% in 2012, to USD4.8 billion as passenger traffic increased 23% to 10.3 million. Partnerships drove a significant part of the revenue and traffic growth.
Partners contributed 19% of total passenger revenue in 2012, up from 15% in 2011. Etihad’s partners delivered more than 1.2 million passengers into the carrier’s network in 2012, 400,000 more than in 2011.
Etihad Airways revenue: 2007 to 2012

Source: Etihad Airways and CAPA – Centre for Aviation
Etihad Airways passenger traffic: 2004 to 2012

Source: Etihad Airways and CAPA – Centre for Aviation
Etihad added 12 new codeshare partnerships in 2012 for a year-end total of 41, giving it a virtual network of about 250 codeshare destinations. The addition of Kenya Airways and South African Airways in 1H2013 results in the current total of 43 codeshare partners and an even larger virtual network, which is now almost four times the size of its own network.
Among the codeshare partners added in 2012 was Air France, which previously had been an entrenched and vocal opponent of the spreading influence of Gulf carriers. The Air France deal was part of a major strategic partnership that also includes a codeshare agreement between airberlin and Air France, creating a powerful triangular network and further blurring some of the friend/foe distinctions between alliances.
airberlin has quickly emerged as particularly important partner to Etihad. During 2012 the partnership added more than 300,000 passengers shared between their networks, delivering more than USD130 million in revenue to the two airlines. Overall, Etihad Airways’ partnerships delivered more than USD600 million in total revenue in 2012.
Etihad shows a new way forward with its partnership strategy

Mr Hogan is an outspoken critic of global alliances and believes Etihad’s approach has significantly more value. While Etihad’s codeshare partners include members of all three alliances, four of the five carriers it has chosen to invest in are also non-aligned – Jet Airways, Aer Lingus, Air Seychelles and Virgin Australia. When Etihad invested airberlin was too far down the road to joining oneworld to reverse course.
The success of Etihad and rival Emirates, which has also built a strong network of partners including its game-changing deal with Qantas, has illustrated there is an alternative to global alliances. Etihad is now taking its innovative approach to partnerships one step further by pursuing joint purchase opportunities with its closest partners.
The deals Etihad has shared with airberlin and Jet on the 787, and the potential joint aircraft order the three carriers and tiny Air Seychelles may place in the future, will lower costs and make each carrier more competitive. Once again Etihad is jolting the status quo, providing a tangible set of benefits to partners which are out of the reach of the once mighty global alliances.

 

[AZ209]

Solita interessante analisi di CAPA. Colpisce il successo della loro strategia di equity e partnerships: "The carrier’s equity and codeshare partners – now numbering more than 40 airlines and the French rail operator SNCF – generated USD184 million in passenger revenue in 2Q2013, around 20% of total revenue"

Qui la press release ufficiale EY sui risultati 1H2013: https://www.etihad.com/en/about-us/...ts-for-second-quarter-and-first-half-of-2013/

 

[claudietto]

Incredibili! Se possibile il management di EY sta facendo ancora meglio di quello di EK, la presenza di un vicino cosí ingombrante come la stessa Emirates non li ha spaventati, anzi.

 

[FlyKing]

Tra l'altro leggevo giusto stamattina che molto probabilmente saranno anche soci del nuovo vettore che prenderà il posto di Malev (start up da fine estate) in quanto strategico per via di vari investimenti del fondo Abu Dhabi in Ungheria

 

[claudietto]

Non so quante sinergie si creino nel comprare linee aeree in giro per il mondo. Oltretutto compagnie mezze morte, come AirSeychelles, o con quote che non permettono di avere grande voce in capitolo come il 3% di AerLingus o il 10% di Virgin Australia.
Una cosa é sicura: questi i soldi da investire ce li hanno e vogliono diventare un global carrier con un global network, quale sará la prossima mossa?

 

[kenadams]

Arriva da Etihad anche un ordine per sette simulatori: 1 A350, 3 787, 1 A380, 2 A320.

http://www.albawaba.com/business/pr/etihad-airways-simulators-505993#.Ud63F0FtOH0

 

[UM78]

Ed intanto ...

12/27/2013 | Economic Times (India)

The Indian government has approved the sale of five Boeing 777 jets by Air India to Etihad Airways. The deal, which may be worth up to $350 million, would help Air India pay down debt. Etihad Airways, based in Abu Dhabi, United Arab Emirates, plans to use the 777s on routes from Abu Dhabi to the U.S.

 

[belumosi]

Ed intanto ...

12/27/2013 | Economic Times (India)

The Indian government has approved the sale of five Boeing 777 jets by Air India to Etihad Airways. The deal, which may be worth up to $350 million, would help Air India pay down debt. Etihad Airways, based in Abu Dhabi, United Arab Emirates, plans to use the 777s on routes from Abu Dhabi to the U.S.

Mi sembra indicativo di come EY intenda gestire le controllate: cercando di fare soprattutto il proprio interesse senza necessariamente espandere i network dei nuovi acquisti. Anzi, tagliando pesantemente per rimetterne i sesto i conti.
Come peraltro è perfettamente logico che sia.

 

[UM78]

Direi un "favore" al governo indiano vs. l'affare JET Airways

 

[londonfog]

Mi sembra indicativo di come EY intenda gestire le controllate: cercando di fare soprattutto il proprio interesse senza necessariamente espandere i network dei nuovi acquisti. Anzi, tagliando pesantemente per rimetterne i sesto i conti.
Come peraltro è perfettamente logico che sia.

Scusami, ma cosa c'entra l'acquisto di 777 da Air India con le "controllate"? Etihad ha una partecipazione (o e' in trattative) in Jet Airways, non Air India.

 

[UM78]

Scusami, ma cosa c'entra l'acquisto di 777 da Air India con le "controllate"? Etihad ha una partecipazione (o e' in trattative) in Jet Airways, non Air India.

Penso si sia confuso leggendo 777 jets....

 

[belumosi]

Scusami, ma cosa c'entra l'acquisto di 777 da Air India con le "controllate"? Etihad ha una partecipazione (o e' in trattative) in Jet Airways, non Air India.

Infatti non c'entra nulla! Ho confuso AI con JA, chiedo venia.

 

[giorgiogds]

In total Etihad Airways has ordered three Boeing 787 FFS, one Airbus A380 FFS, one Airbus A350 FFS, and two Airbus A320 FFS. All are CAE 7000 Series models. The airline currently has four CAE FFS: one Boeing 777, one Airbus A320 and two Airbus A330/340s. .........................................................................................

impressionante..