Money
Etihad halves half-year loss to $400 million
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.
-
Shows3 days ago
Simplifying complex cyber security
-
Shows24 hours ago
The Dragon’s Tale
-
News3 days ago
Apple responds to crushing iPad Pro criticism
-
Tech3 days ago
One year later, how is Xbox’s acquisition of Activision paying off?
-
Leaders4 days ago
The risk of avoidance: planning your estate
-
Shows4 days ago
The Mayor, the Hollywood star and his Pioneering Parents
-
News4 days ago
EV market witnesses unprecedented price cuts
-
News3 days ago
U.S. competes to stay ahead of China on ‘AI ‘ weapon systems
