India’s loss-making Jet Airways and its new 24-percent owner Etihad Airways are formulating plans for restructuring debt and fleet rationalization for enhancing a full-service branding. Jet, reporting $689 million in declared losses last year, expects to show profits by 2017, founder and chairman Naresh Goyal said at a July 23 press conference in New Delhi.
Etihad Airways on Tuesday announced its strongest ever passenger and cargo volumes for a first quarter, just as its negotiations for a 49-percent stake in Alitalia regain momentum. The airline, whose bid for a piece of Alitalia marks yet another effort to expand its already considerable global influence, logged $1.4 billion in total revenues during the three-month period, marking a year-on-year increase of 27 percent.
Etihad Airways appears close to making a final decision as to whether or not to buy an equity stake in Alitalia. Speaking during a March 3 conference call about the Abu Dhabi-based airline’s latest quarterly financial results, CEO James Hogan confirmed that Etihad has entered the final stage of due diligence in evaluating the struggling Italian flagcarrier.
The Global Aerospace Summit, an Abu Dhabi-based aviation event that will take place for the second time in April, has announced speakers to take part on the first day of the summit.
Hosted by Mubadala Development and organised by Streamline Marketing Group, the event will see James Hogan, president and CEO of Etihad Airways, Marillyn Hewson, president and CEO of Lockheed Martin and Tony Douglas, CEO of Abu Dhabi Airports, as opening speakers on April 7, 2014. The conference runs for two days through April 8.
UAE national carrier Etihad Airways unveiled its first branded regional airline operation–Etihad Regional–at the Dubai Airshow yesterday. Etihad is launching the regional operation after acquiring a 33.3-percent stake in Swiss carrier Darwin Airline.
“Etihad Airways is the fastest-growing airline in the history of commercial aviation,” said James Hogan, president and CEO, upon the announcement that Etihad will begin nonstop flights to Los Angeles from Abu Dhabi beginning June 1, 2014.
Billing itself as the fastest-growing airline in the history of commercial aviation, Etihad Airways keeps doing everything in its power to maintain momentum. Last week it announced the June 1 launch of nonstop flights to Los Angeles from Abu Dhabi, supported by the purchase of five Boeing 777-200LRs from Air India. By the end of the year, Etihad plans to expand its fleet to 87 airplanes, including the five Air India jets and 14 new widebodies delivered by Boeing and Airbus this year.
Etihad Airways will take a 49-percent stake in Serbian national airline JatAirways under the terms of a deal with the government of Serbia announced Thursday that includes the award of a five-year management contract to Etihad. The deal also calls for Abu Dhabi-based Etihad to match a $40 million capital injection in the airline by the Serbian government with a loan facility that would convert into equity on January 1 of next year.
UAE government-owned carrier Etihad Airways inaugurated its fourth destination in North America on April 1, starting daily flights between Abu Dhabi and Dulles International Airport near Washington, D.C. Etihad last opened a new route to North America more than three years ago by starting service to Chicago, adding to its previous launches in New York and Toronto. Emirates, the largest Middle East carrier, started service between Washington Dulles and Dubai last September.