Abu Dhabi's Etihad Airways is on track to meet its target of being profitable in 2012, despite the continuing challenges of global markets and fears about another economic downturn.

Chief Executive James Hogan said the privately run company's wide geographic focus and operational efficiencies as a new airline would put it into the black in 2012 despite industry body IATA warning of waning consumer confidence, sluggish international trade and high fuel prices.

"We'll break even this year, and then we'll move into profitability," Hogan told Reuters on Saturday.

"For airlines it's tough, but we're not a transatlantic carrier so probably a lot of the negative numbers that are commentated on by IATA...(have) such a high weighting on transatlantic," he said.

Global airlines have become resilient to negative headwinds, the Australian executive added, speaking on the sidelines of a two-day gathering of nearly 300 business people of Irish descent in Dublin.

"I think as airline executives, we're used to toughness, whether it be war, pandemics, airports freezing up, you've got to adjust, you've got to move forward, that's our style of working.

"I always take advantage of a good crisis by shaking up the company," he added.

Etihad reported a 39 percent jump in its third-quarter revenues this week, as the unlisted carrier grew its network and increased passenger numbers.

Last month, IATA said a weak global economy would prompt a sharp fall in airline profits in 2012 and cut the industry's profit margins to a wafer thin 0.8 percent from 1.2 percent this year.

IATA forecasts industry profits in 2012 will fall 29 percent to US$4.9 billion from US$6.9 billion this year.