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Etihad adds codeshares, helps filmmakers and bankers

July 5, 2013 Aviation, Headline News No Comments Email Email

egtmedia59Etihad Airways’ profile in Australia is gaining steady prominence on many fronts – aviation related, financial and cultural.

The Abu Dhabi-based airline, which owns about 9% of Virgin Australia, has begun new codeshare flights between Jakarta and Perth. It has thrown its weight behind the international promotion of Arabic arts and culture by again sponsoring the Arab Film Festival Australia in 2013.  And it has hosted a financial roadshow for Australian bankers in Sydney, following earlier similar event this Arab Film Festival Australia co-directors Fadia Abboud and Mouna Zaylah attend the festival opening night in Sydney with Norhan Youssef from Etihad Airwaysyear in London and New York.

The new services between Jakarta and Perth have added an extra 2184 seats each week to the Jakarta-Perth route.

James Hogan, Etihad Airways president and chief executive, called the expanded codeshare with Garuda an exciting development which would deliver benefits to both airlines and their customers worldwide.

“The codeshare with Garuda to Perth demonstrates the effectiveness of our partnership strategy, enabling Etihad Airways to continue its expansion in Australia and to contribute to tourism and economic growth.

“We are confident that seamless two-way connections in Jakarta to Perth and Abu Dhabi – and beyond to Europe, Africa and the Middle East – will hold great appeal to travellers on the route.”

Flight GA724 / EY7126 departs Jakarta at 1030 and arrives in Perth at 1550 – a total journey time of five hours.

The return flight GA725 / EY7125 departs Perth at 1740 and arrives in Jakarta at 2115 – a total journey time of 4.50 hours.

The Jakarta-Perth flights are operated by a two-class Boeing 737-800 aircraft with 12 seats in Business Class and 144 seats in Economy Class.

Meanwhile, the Arab Film Festival Australia 2013, sponsored by Etihad, is screening 11 high-quality films by Arab filmmakers from Algeria, Australia, Bahrain, Egypt, Iraq, Jordan, Lebanon, Morocco, Palestine and Saudi Arabia.

The festival has already opened in Sydney. It will tour two other Australian cities – Canberra and Melbourne – this month.

“As the national airline of the United Arab Emirates, Etihad Airways is committed to bringing modern Arabic culture to the world and to showcase the work of gifted Arab filmmakers from diverse communities and perspectives,” Hogan said.

The festival is produced by Information and Cultural Exchange (ICE) and driven by an organising committee representing Australia’s diverse Arabic-speaking communities and cultures.

On the banking front, the Etihad roadshow attracted 70 bankers from many of the world’s largest financial institutions.

Hogan told the bankers: “Etihad Airways continues to expand its flight network, fleet of aircraft, and passengers carried, and the banking community around the world, and in Australia, play a key role in helping ensure this successful growth is maintained.

“The banking institutions view Etihad Airways as a financially sound company with a strong track record in safety and we are always eager to spend time with them to communicate the latest developments at the airline.”

In 2012, Etihad Airways earned total revenues of USD 4.8 billion and had a net profit of USD 42 million and this strong financial portfolio, built up during the previous six years, has allowed it to gain more than USD 7.1 billion in funding from more than 60 financial institutions.”

Hogan and his team discussed Etihad Airways renowned hedging strategy with the bankers in Sydney. The airline’s jet fuel is hedged at 81% for the remainder of 2013, 62% for 2014, 33% for 2015, and 9% for 2016.

As well as Virgin Austraia, Etihad holds equity investments in airberlin, Air Seychelles and Aer Lingus. Subject to regulatory approval, it will soon acquire 24% of India’s Jet Airways.

Written by : Peter Needham

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