Etihad nonetheless deep within the purple for 2018

Abu Dhabi flag-carrier Etihad Airlines has reported a internet lack of US$ 1.28 billion for the yr.

The determine was once, alternatively, a slight growth at the lack of US$ 1.52 billion reported for 2017.

Revenues slipped from US$ 6 billion to US$ five.86 billion ultimate yr because the service lower services and products to be able to stem losses.

Etihad carried 17.eight million passengers in 2018, down from 18.6 million, with a 76.four consistent with cent load issue.

Since taking off its five-year transformation programme in 2017, the airline has stepped forward its core working efficiency via 34 consistent with cent in spite of difficult marketplace stipulations and results of an build up in gas costs.

Tony Douglas, workforce leader government of Etihad Aviation Staff, stated: “In 2018, we persisted to forge forward with our transformation adventure via streamlining our price base, bettering our cash-flow and strengthening our steadiness sheet.

“Our transformation is instilling a renewed sense of self belief in our consumers, our companions and our folks.

“As a significant enabler of trade and tourism to and from Abu Dhabi, we’re intrinsically connected to the ongoing good fortune of the emirate.”

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The airline larger yields via 4 consistent with cent, in large part pushed via capability self-discipline, community and fleet optimisation and rising marketplace percentage in top class and point-to-point markets.

Passenger revenues remained stable at US$ five billion.

The airline lowered general prices via US$ 416 million to US$ 6.nine billion.

Direct working prices had been lowered via US$ 226 million (three.6 consistent with cent) in spite of ongoing gas worth volatility.

Management and normal bills declined via US$ 190 million (19 consistent with cent), principally pushed via decrease oblique manpower and different management prices.

Right through 2018, Etihad Airlines took supply of 8 new plane together with 3 Boeing 787-9s, 4 Boeing 787-10s and one Boeing 777-200 freighter.

The airline’s fleet depend at yr finish was once 106, with a median age of five.7 years.

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