Etihad eyes profit in ‘11 as ‘10 target slips

DUBAI – Etihad Airways, the national carrier of the United Arab Emirates, will focus on achieving profitability in 2011 after its original target of 2010 slipped, the carrier’s chief executive said Monday.

“As we move into 2010, we intend to cement our place as the world’s best airline, opening up new routes, taking delivery of new aircraft, investing in new products in the air and on the ground,” James Hogan said in an emailed statement.

“Our next growth phase will also position Etihad to reach its goal of profitability in 2011. This will be a key focus for us as we move forward with a program of continuous investment in our network, our product, and in staff training and development,” he said.

Last month, Hogan told Dow Jones Newswires that the closely-held carrier would see its first profitable year in 2011 rather than 2010 as earlier forecast.

Source: business.maktoob.com

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