Abu Dhabi-based Etihad Airways, which owns just under 3 per cent of Aer Lingus, generated a profit of $42 million on revenues of $4.8 billion in 2012, according to figures published yesterday.
This compared with a profit of $14 million on turnover of $4.1 billion the previous year.
Etihad’s president and chief executive James Hogan said the airline was projecting a higher profit for 2013, but declined to put a figure on this.
Passenger numbers rose 23 per cent to 10.3 million, with its seat-load factor increasing to 78.2 per cent.
The passenger number included 1.2 million from code-sharing partners and alliances, including Aer Lingus.
These partnerships contributed $629 million to Etihad’s revenues.
Mr Hogan said Etihad’s 10 times a week service to Dublin was one of its “most strong European destinations” and had enabled both airlines to feed traffic into the other’s network. He said Etihad cut its non-fuel costs by 5 per cent or $150 million last year, and the airline locked in 80 per cent of fuel costs at prior-year prices.
Etihad expects to complete due diligence on taking an equity stake in Jet Airways (India) in the next fortnight.