Etihad Airways Annual Profit Surges

Abu Dhabi's Etihad Airways posted a 52 percent gain in its net profit for the full year. Etihad Airways posted an annual profit of $73 million, versus a year-ago profit of $48 million. Its revenue jumped 27 percent to $7.6 billion. Cargo revenue rose 19 percent to $1.11 billion, while revenue from partner airlines surged 38 percent to $1.13 billion. Etihad Airways carried 14.8 million passengers in the year, a 22.3 percent rise versus the prior year. Seat occupancy jumped 1.2 percentage points year-over-year to 79.2 percent. "Although our growth continued strictly to plan in 2014, we are currently faced with unprecedented external challenges," said James Hogan, president and chief executive of Etihad Airways.