Etihad began operations in 2003.

Hogan said that "in spite of the tough global economic environment," the carrier would aim for strong growth this year, targeting a passenger traffic of 10 million and "a corresponding increase in profits."

In December, Etihad increased its stake in Germany's second-largest airline airberlin to 29.21 percent with an investment of 72.9 million euros ($95 million at the time of announcement).

"This was a game changing move for Etihad Airways, adding 157 destinations and giving us access to 35 million new passengers," Hogan said.

"The airberlin deal will be our most important catalyst for growth in 2012. It has given us instant access to Europe's largest travel market, and will have a major impact on revenues in 2012, with an expected contribution of up to US$50 million," he added.

Last month Etihad announced signing a memorandum of understanding with the government of the Seychelles to acquire a 40 percent stake in Air Seychelles for $20 million.

The carrier will also provide a shareholder's loan of $25 million to meet working capital requirements and support network development, it said.

Etihad serves 83 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and North America, with a fleet of 65 Airbus and Boeing aircraft.

It has 100 planes on order, including 10 Airbus A380 superjumbos, the world's largest passenger airliner.

The UAE is also home to Dubai-owned Emirates, one of the world's fastest growing carriers, while the airport of Dubai is the Middle East's busiest and has transformed the Gulf emirate into a transit hub.