UPDATE 1-Etihad Airways sees opportunity in India, Asia

* Etihad looking at one or two more partnerships - CEO

* Airline reported Q3 revenue of $1.3 bln

* Code sharing, partnerships boost passengers

* On track for full-year profitability

(Adds CEO comments from interview)

By Stanley Carvalho and Praveen Menon

ABU DHABI, Oct 7 (Reuters) - Etihad Airways, Abu Dhabi'sflag carrier which has expanded globally through stake purchasesin firms like Air Berlin and Virgin Australia ,will look to extend its geographical reach to India and otherAsian markets.

The Gulf carrier, in competition with regional rivalsEmirates and Qatar Airways, will also look to securemore airline stakes, its chief executive said in an phoneinterview on Sunday.

"Possibly one or two (partnerships) more and that will beit," said James Hogan when asked about plans to pick up morestakes in other airlines.

Hogan said after its push into Australia with a 10 percentstake in Virgin Australia and Europe with 29.2 percent in AirBerlin and 3 percent in Aer Lingus , the airline willnow look for growth in Asia.

"We are very clear that India and Asia represent anopportunity," said Hogan.

He said the airline has been receiving offers from Indiancarriers.

"We get a number of options. It has to meet our formula. Weare in no rush. We have to make sure that it makes sense from anetwork, operation and revenue perspective."

India decided to allow foreign airlines to buy stakes of upto 40 percent in local carriers last month, a move that came asa lifeline to the country's debt-ridden carriers.

Ailing Kingfisher Airlines , SpiceJet andJet Airways are all said to be on a lookout forstrategic investors.

Dubai's Emirates has denied plans to buy a stakein any Indian carrier.

Etihad on Sunday reported revenue of $1.3 billion in thethird quarter, a 19 percent rise year-on-year. Passenger revenuewas boosted by code sharing and partnerships - revenues fromthese two categories jumped 51 per cent to $182 million.

"Over the next 7 to 8 years we are taking another 100aircraft. So we will also continue to grow organically andcontinue with our code share agreements," Hogan said.

The airline's 38 partners created a combined network of 315destinations, more than any other Middle Eastern carrier, Etihadsaid.

Air Berlin made a significant contribution to revenue, itadded. The two airlines' code sharing and joint marketingagreements have delivered $51 million in revenue to Etihadyear-to-date, surpassing initial full-year estimates.

Hogan said more opportunities may also emerge in Europeafter the Air Berlin stake purchase.

Last year, Etihad carried 8.3 million passengers through itshub in Abu Dhabi. It is on course to carry 10 million in 2012.

Hogan said it is on track to deliver full-yearprofitability. However, no details of third-quarter profits wereprovided.

Cargo revenues in the quarter grew 6 percent to $181million.

(Editing by Andrew Torchia and Mark Potter)

((stanley.carvalho@thomsonreuters.com)(Tel: + 9712 6444431))