Abu Dhabi’s Etihad doubles Airbus freighter fleet

Etihad Airways, Abu Dhabi’s state-backed airline, has ordered two A330-200Fs valued at $423m at current list prices as it looks to grow its cargo business. 

The new aircraft will double the airline’s fleet of Airbus A330-200 Freighter fleet, its president and CEO said in an emailed statement.

“We are strongly committed to building our presence in the cargo sector with the platform of Abu Dhabi as our hub to connect global trade lanes,” James Hogan said.

The deal comes a day after the carrier announced it had acquired a 40 percent stake in Air Seychelles. Etihad said it plans to invest $20m in the Indian Ocean carrier and will provide a $25m loan to meet working capital requirements and fund network development.

The agreement is the airline’s second equity investment, following its December announcement that it would increase its stake in Air Berlin to 29.21 percent, making it the single biggest shareholder in Europe’s sixth largest airline.

Etihad earlier in the month said it carried a record number of passengers and cargo in 2011 as it added flights and eight new routes. The airline carried 8.29 million travellers last year, up 17 percent from 2010 while its cargo unit transported 310,000 tonnes, an increase of 18 percent compared to the same period the previous year.

The airline reported a 28 percent rise in revenue to $1.72bn for the first half of 2011, putting it on target to generate its first net profit in 2012.