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Etihad Airways soars to triple earnings
Monday, February 04 08:32:39
Abu Dhabi's Etihad Airways said its net profit tripled last year as the fast growing carrier added routes and code-share arrangements in its expanding rivalries with other Gulf airlines. Government-owned Etihad said that 2012's net profit jumped to $42m, compared to $14m in 2011. Revenue rose 17pc to $4.8 billion. Etihad began flying to six new destinations last year, including Shanghai and Kenya's capital, Nairobi.
Eithad has aggressively sought to expand cost-share agreements and purchase stakes in foreign airlines such as Airberlin and Virgin Australia. The carrier is locked in deepening competition with Gulf rivals Qatar Airways and Dubai-based Emirates.
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