Etihad Airways' 'Transformation Journey' Continues | Aviation International News

Etihad Airways' 'Transformation Journey' Continues

'Core airline' loss reduced to $1.8 billion last year

Etihad Airways Boeing 777F

By Peter Shaw-Smith • Contributor - Middle East

November 16, 2019

Etihad Airways' core operating performance rose 15 percent in the 2018 fiscal year, ended December 31, on revenues of $5.86 billion, compared to $6.0 billion a year earlier. It also reported a "core airline" loss of $1.28 billion, compared to a loss of $1.52 billion in 2017, the company announced in March.

Last year saw the airline's third straight year of losses in excess of $1 billion. However, the slow and painstaking effort to rebuild saw it improve passenger yield 4 percent, reduce unit costs 3 percent, despite a 31 percent increase in fuel prices, and handle 17.8 million passengers, down from 18.6 million in 2017. Passenger revenue remained steady at $5.0 billion. Seat factor last year was 76.4 percent.

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