Etihad announces results, but says growth is under threat from protectionism

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Etihad has announced a $73m profit on the back of revenues of $7.6bn – and in case any rival was wondering, it has made it clear that they  are “audited by KPMG and are in accordance with International Financial Reporting Standards (IFRS)”. Cargo revenues rose 19.2%  to $1.1bn, on volumes of 569,000 tonnes, meaning freight contributed 14% of total the carrier’s total revenues – equal in fact to the revenues Etihad gains from its partners. As the Wall St Journal notes, the published figures are likely to be disputed by some carriers, after last year’s results reportedly failed to disclose $3.5bn in shareholder funding, according to financial documents obtained by US carriers in their bid to restrict free competition, or ensure fair competition – depending, of course, on how you look at it.

If you can’t open the Wall St Journal article, try here.