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Etihad's first-half profits are the best ever on global expansion and passenger growth

The company reported that the first half of Etihad Airways's financial year was its most successful yet. Its net profit reached 1,12 billion dirhams ($304.96 millions), an increase of 32% compared to last year.

Etihad transported 10.2 million passengers during the six-month period ending June 30. This is a 17% rise from the year before, despite regional tensions in the Middle East - such as the 12-day air conflict between Israel and Iran that took place in June.

The airline's chairman Mohamed Ali Al Shorafa attributes the growth of the airline to its international expansion. This includes the announcement or launch of 27 new destinations in the past 18 months and the addition 20 aircraft.

The chief executive Antonoaldo Neves said on Tuesday that the airline was ready for a public offering but did not have any immediate plans. He also stated that they had enough resources to fund their $20 billion expansion plan for the next ten years. ($1 = 3.6726 UAE Dirham) (Reporting and editing by Barbara Lewis; Luke Tyson)

(source: Reuters)