It carried 4 million passengers in 6 months

Etihad Airways achieves record profits of $296 million in the first half

Etihad Airways operates flights from Abu Dhabi to 71 passenger and cargo destinations in 45 countries.

From the source

Etihad Airways announced its financial and operating results for the first half of 2022, with a record profit in the core operating business of $296 million compared to a loss of $392 million in the first half of 2021, despite a 60% increase in fuel prices compared to the period. Same from last year.

Etihad Airways carried 4.02 million passengers in the first half of 2022, compared to 980,000 passengers in the first half of 2021, with a 75% seat occupancy rate.

The company confirmed that the average number of travelers has increased regularly during the past six months, an increase of 21.9% with the recovery of travel demand, at a time when the company witnessed a strong increase in the number of travelers last February after the reduction of travel restrictions in Abu Dhabi.

Etihad Airways indicated that it operates flights from Abu Dhabi to 71 passenger and cargo destinations in 45 countries, and at the beginning of this year 2022, it launched flights to five summer destinations, including seasonal flights to Heraklion on the island of Crete, and the French city of Nice.

Etihad Airways confirmed strong performance in cargo operations, with cargo tonnage increasing by 44% in the first half of 2022 compared to last year, while freight revenue increased by 56% compared to last year.

Etihad Aviation Group Chief Executive Officer, Tony Douglas, said: “With a business transformation strategy, Etihad Airways is emerging from the (Covid-19) pandemic stronger than ever, with a world-class fleet, unparalleled services, and a sustainability strategy woven into every part. of our business.”

He stressed that sustainability remains a primary focus for the company with the entry of the A350-1000 fleet into service, and the continued strengthening of the airline's efforts to reduce carbon emissions, which resulted in Etihad Airways winning the title of "environmentally friendly airline".

And “Etihad Airways” revealed that its revenues tripled in the first six months of this year, reaching 1.25 billion dollars, compared to 320 million dollars in the first half of 2021, with more business and leisure travelers returning to travel, as a result of easing travel restrictions after the pandemic. "Covid-19" in many countries on the carrier's network of destinations.

In turn, cargo flights continued to achieve exceptional results, with revenues reaching $802 million in the first half of 2022, or an increase of 6% over the results recorded during the same period last year.

For his part, Chief Financial Officer Adam Boukadida said that the transformation strategy has made Etihad Airways more flexible and effective.

He added: “We are proud of our return to profitability in the first half of 2022, and during this period, we were able to reduce our indirect fixed expenses and financial expenses by $50 million compared to the first half of 2021, reduce the level of debt in our balance sheet and increase EBITDA. The debt is more than 600 million dollars.”

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