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Wed 26 Mar 2014 03:06 PM

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Etihad hails 'successful' roadshows as it chases $2bn funds

Airline CEO James Hogan leads meetings in New York, London with world's largest financial institutions

Etihad hails 'successful' roadshows as it chases $2bn funds

Etihad Airways said on Wednesday it has completed "highly successful" financial roadshows in New York and London as part of efforts to raise £2 billion to finance new aircraft.

The Abu Dhabi airline said the roadshows, led by James Hogan, Etihad's president and CEO, attracted a "record number of guests".

More than 400 representatives from many of the world’s largest financial institutions, lessors and other partners attended the roadshows which are held annually.

The airline is looking to raise $2 billion to finance its fleet deliveries in 2014 which will include its first A380 and Boeing 787 aircraft.

Etihad Airways has raised more than $8 billion in funding from 68 financial institutions during the past 10 years to finance aircraft and engines.

Hogan said: “Etihad Airways continues to expand its relationships with financial institutions in markets around the world, which in turn play a crucial role in the expansion of the airline’s global network and fleet of aircraft.

“The financial institutions view Etihad Airways as a strong counterparty, that is financially stable with a strong track record in safety, and we are always eager to spend time with them to communicate our latest developments.”

Earlier this month Etihad Airways announced a record net profit of $62 million in 2013, up 48 percent, marking the third successive year of net profitability. The airline also generated revenues of more than $6 billion last year.

During the past 12 months Etihad has continued to expand through organic growth, codeshare and interline partnerships, equity alliance in other airlines and aviation related businesses, and franchise partners.

In addition to the four existing equity partners – airberlin, Air Seychelles, Virgin Australia and Aer Lingus – Etihad Airways announced investments in three additional carriers in 2013.

Stakes were acquired in Jet Airways, Air Serbia and Darwin Airline, a regional carrier based in Switzerland which has become a new sub-brand called, Etihad Regional (subject to regulatory approval).

Etihad also made the largest aircraft order in its history in 2013, with orders, options and purchase rights for up to 199 Airbus and Boeing aircraft, valued at up to $67 billion.

The airline, which will take delivery of 18 aircraft in 2014, has announced nine new destinations for 2014 - Madinah, Jaipur, Los Angeles, Zurich, Yerevan, Perth, Rome, Phuket, and Dallas-Fort Worth.

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