Etihad Targets Year-End Breakeven

Etihad Airways is confident of reaching its financial breakeven point this year despite the cost of continued fleet and route expansion.

The recommitment to the financial milestone was made by CEO James Hogan in announcing the airline's plans to add three Airbus A330-300s and two Boeing 777-300ERs in the coming months with the goal of having 62 aircraft by the third quarter.

Moreover, A330-300 economy cabins are being fitted with five more rows of seats, and premium cabins will also see changes. In a statement, Hogan says, "2011 will be one of the most important years in Etihad's history, as we add depth and scale to our operation, build on our impressive growth of the past seven years, and move towards our breakeven target by year-end."

Network changes include boosting frequencies to European points, such as turning Paris into a double-daily connection and making Milan and Geneva daily destinations. Service to Brussels, Manchester and Milan also will go up, as will flights to some Asian links, such as Beijing and Bengaluru.