Etihad goes into profit in third quarter

National carrier Etihad Airways moved into operating profitability in the third quarter this year, James Hogan, chief executive of the Abu Dhabi-based airline told delegates attending the 44th Annual General Meeting of the Arab Air Carriers Organisation (AACO) in the capital. "We expect that this will be the year we break even," said Hogan, while delivering his welcome speech to the delegates on Monday evening. He said Etihad currently operates to 86 destinations directly, and to more than 220 with codeshare partners. "In the last 12 months, we have announced new routes to Bengaluru, Chengdu, Duesseldorf, Shanghai, Nairobi, the Maldives and the Seychelles," said Hogan, adding that next year the airline will continue to open new routes and sign new codeshares. Rapid growth Set up in July 2003, Etihad started commercial operations the following November and has gone on to become the fastest growing airline in the history of commercial aviation. Abu Dhabi is the airline's hub. Etihad's fleet of 63 aircraft operates more than 1,000 flights per week. In 2008, the airline announced what was at the time the largest aircraft order in commercial aviation history at the Farnborough International Air Show, for up to 205 aircraft — 100 firm orders, 55 options and 50 purchase rights. In the next 10 years, Etihad Airways plans to take delivery of 19 A320s between 2011 and 2015; 10 Airbus A380s by 2014; 25 A350s between 2017 and 2020; 31 Boeing 787s between 2014 and 2020; and 10 Boeing 777s between 2012 and 2013.