LAHORE (PPI) - Etihad Airways has reported its most successful first quarter to date, with revenues up 21.2 per cent to $ 770 million, attributable to strong performances in both passenger and cargo traffic. Coupled with a 5.9 per cent reduction in costs per available seat kilometre, this delivered positive EBITDAR in the quarter for the first time. The results mark continued progress towards the airlines goal of break-even in 2011 and profitability in 2012. Passenger revenues rose 15 per cent on the back of a 10.6 per cent growth in passenger numbers, to 1,854,392. Seat factor fell slightly to 72.7 per cent due to the impact of Middle East unrest and the Japanese earthquake. James Hogan, Etihad Airways Chief Executive Officer, said: I am pleased to report more positive progress on our journey towards break-even and profitability. Our revenues continue to grow faster than our passenger numbers and, thanks to our robust cost controls, we are seeing a real benefit in our overall performance. This marks the first time we have delivered positive EBITDAR in Q1.