Etihad Reports Strong Half Year Results

[In The News]

DALLAS – As Etihad Airways (EY) continues its ambitious transformation plans, the airline has reported strong half year results.

Etihad’s efforts to transform itself, coupled with a strong rebound in summer travel, have shown to be fruitful. 

The airline used the significant downturn in travel over the past two years due to COVID-19 as an opportunity to drive its transformation, and the results are beginning to take shape.

One of the biggest areas of transformation has been in the airline’s fleet, with the addition of its new flagship Airbus A350-1000 aircraft, and the grounding of its A380-800 fleet.

The new A350-1000s have many elements of the latest technology available on board, helping the airline to continue to compete with other large Middle Eastern airlines.

Tony Douglas, Group Chief Executive Officer of Etihad said, “Thanks to our transformation programme, Etihad is emerging from the pandemic stronger than ever, with a world-class fleet, an unmatched customer proposition and sustainability woven into every fibre of our business.”

Etihad Airways A350-1000 Interior | Photo: Kochan Kleps/Airways

In Numbers

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The airline reported a ‘record breaking’ operating profit of $296m, a stellar improvement from their previous year’s results from the same period of $392m loss.

In total, EY carried 4.02 million passengers during the first half of 2022, with a consistent increase in passenger loads, rising by 21.9 percent over the first six months.

A sharp uptick in cargo demand during the worst of COVID-19 was a lifeline for many airlines, and has continued to take the spotlight in many airlines’ operations.

Etihad reported cargo revenue of $802m in the first half of 2022, an increase of 6 percent compared to the same period last year.

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Featured Image: Alberto Cucini/Airways

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