Jet Airways suitor Etihad’s net profit tripled in 2012
5 Feb 2013 6:27 AM IST
Abu Dhabi's Etihad Airways says net profit tripled last year as the fast-growing carrier added routes and code-share arrangements in its expanding rivalries with other premium Gulf airlines.
Government-owned Etihad said on Monday that 2012 net profit jumped to $42 million, compared to $14 million in 2011.
Revenue rose 17 per cent to $4.8 billion.
Etihad began flying to six new destinations last year, including Shanghai and Kenya's capital, Nairobi. It also has announced expanded service this year to Washington and other cities.
Eithad has aggressively sought to expand cost-share agreements and purchase stakes in foreign airlines such as airberlin and Virgin Australia.
The carrier is locked in deepening competition with Gulf rivals Qatar Airways and Dubai-based Emirates.
97.46 LAKH PLEDGED SHARES OF SPICEJET PROMOTER RELEASED
Low-cost carrier SpiceJet on Monday said more than 97.46 lakh shares pledged by one of its promoter, Kal Airways, have been released.
Kal Airways held 15.65 crore or 32.32 per cent stake in SpiceJet as of December quarter.
In a disclosure to the BSE, Spicejet said that over 97.46 lakh equity shares of the company, pledged by Kal Airways have been released.
SpiceJet operates over 300 daily flights.
SpiceJet last month reported a net profit of Rs 102 crore for the third quarter ended December, 2012.
Government-owned Etihad said on Monday that 2012 net profit jumped to $42 million, compared to $14 million in 2011.
Revenue rose 17 per cent to $4.8 billion.
Etihad began flying to six new destinations last year, including Shanghai and Kenya's capital, Nairobi. It also has announced expanded service this year to Washington and other cities.
Eithad has aggressively sought to expand cost-share agreements and purchase stakes in foreign airlines such as airberlin and Virgin Australia.
The carrier is locked in deepening competition with Gulf rivals Qatar Airways and Dubai-based Emirates.
97.46 LAKH PLEDGED SHARES OF SPICEJET PROMOTER RELEASED
Low-cost carrier SpiceJet on Monday said more than 97.46 lakh shares pledged by one of its promoter, Kal Airways, have been released.
Kal Airways held 15.65 crore or 32.32 per cent stake in SpiceJet as of December quarter.
In a disclosure to the BSE, Spicejet said that over 97.46 lakh equity shares of the company, pledged by Kal Airways have been released.
SpiceJet operates over 300 daily flights.
SpiceJet last month reported a net profit of Rs 102 crore for the third quarter ended December, 2012.
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