Etihad Airways posts 2013 net profit of US$62m, up 48%

Etihad Airways, the national carrier of the United Arab Emirates, posted record financial results for 2013, with net profit up 48% to US$62m on revenues up 27% to US$6.1bn. The record performance also saw earnings before interest and tax (EBIT) up 22% to US$208m and earnings before interest, tax, depreciation, amortisation and rentals (EBITDAR) up 30% to US$979m, a margin of 16% of total revenues. This marked the third successive year of net profitability, in the airline’s tenth year of operation.