Etihad halves half-year loss to $400 million

Published

3 years ago

August 11, 2021

Anthony Lucas

There’s some better news for Abu Dhabi-based airline Etihad Airways

The airline has halved its operating loss to $400 million USD for the first half of the year.

In 2020 at the height of the pandemic the airline recorded a loss of a whopping $800 million.

Etihad says it had cut operating costs by 27 percent, helping the airline recover from a turbulent time in aviation.

All Middle Eastern airlines are seeing passenger numbers struggling to recover.

Passenger numbers still down in the Middle East

Over the last six months, the airline has carried 1 million passengers who on average filled 24.9% of plane seats, down from 3.5 million passengers and 71% of seats filled in the first half of 2020.

Tony Douglas, CEO of Etihad, says the “curveball of the Delta variant disrupting the global recovery in air travel.”

But the carrier, which competes with nearby Dubai’s Emirates and Qatar Airways, stressed it’s ready to reap the benefits of a rebound after slashing year-on-year operational costs.

Etihad is one of the Middle East’s top carriers but was wracked by financial losses even before the pandemic clobbered the aviation industry worldwide.

China has pledged to “significantly increase” debt to jumpstart its economy

Published

1 day ago

October 14, 2024

ticker NEWS

Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

Leaders

Niche accountants proving essential to e-commerce success

Published

6 days ago

October 9, 2024

ticker NEWS

Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

Published

6 days ago

October 9, 2024

ticker NEWS

Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending