Carrier flies past targets as EBITDA improves to US$ 691mn
Etihad Airways lately announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of US$ 296mn.
Etihad carried 4.02mn passengers in H1-2022, over 3 million more than the number for the 2021 corresponding period), with an average seat load factor of 75%.
“Our results would not be possible without the hard work and commitment of the entire Etihad family, and our focus now is on continuing this momentum into the second half of the year,” commented Tony Douglas, Group Chief Executive Officer.
Etihad’s passenger revenues tripled in the first six months of the year, climbing to US$ 1.25bn (H1-2021: US$ 320mn) as more business and leisure travellers returned to the air.
Cargo operations continued to deliver exceptional results with revenues of US$ 802mn in the first half of 2022, representing an increase of 6% on the same period last year. Revenues remained strong despite the increase in passenger volumes limiting belly-hold capacity, leading to a 19% reduction in freight carried (295,020 tonnes).
“Our transformation programme has made Etihad substantially more resilient and efficient, and we are extremely proud of our return to profitability in the first half of 2022,” stated Adam Boukadida, Chief Financial Officer.
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