KARACHI (PR) – Etihad Airways heralded a successful first year of its equity alliance strategy, after a financial reporting season which saw each of the five airlines within the alliance – airberlin, Air Seychelles, Virgin Australia, Aer Lingus and Etihad Airways – announce profitable performance.

The airlines’ individual and collective results were boosted by a number of measures, including growing codeshare traffic between their networks, successful joint sales and marketing efforts, and a range of increasing business and cost synergies.

James Hogan, Etihad Airways’ President and Chief Executive Officer, welcomed the success of the airlines. He said: “2012 was a year in which the global economy remained very tough and in which airline industry profits as a whole shrank, for the second successive year. Yet each of the airlines in our equity alliance showed strong financial performance with each reporting a profit.