(TAN): Etihad Airways has announced its financial and operating results for H1 2022, posting a record-breaking core operating profit of USD 296 million, compared to a loss of USD 392 billion in H1 2021. This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year, the airline said in a news release.
Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75%. Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered. The airline saw a strong boost in passenger volumes in February as Abu Dhabi further relaxed pandemic-related restrictions.
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Group CEO Tony Douglas 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. As air travel came roaring back in 2022, Etihad was there to reconnect our customers with their loved ones and take them on their long-awaited vacations, carrying over 4 million passengers to and from our beautiful home of Abu Dhabi. Sustainability continued to be a priority area for Etihad as we entered our fuel-efficient A350-1000s into service and continued our industry-leading decarbonisation efforts, leading to Etihad being recently named Environmental Airline of the Year.”
CFO Adam Boukadida said: “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.”
