Etihad has announced a US $476 million loss for 2021, a figure that underscores the continued challenge airlines around the world face as travellers slowly return to the skies amid COVID-19 vaccine rollouts and eased travel restrictions.
Etihad said the figure represents a much-reduced core operating loss compared to the staggering $1.7 billion the company lost in 2020.
The figure is also significantly better than in 2019 when core losses amounted to over $800 million.
The airline said it carried 3.5 million passengers in 2021, with passenger loads doubling in the second half of the year during the UAE’s peak winter travel season.
Still, its overall passenger revenues were down 14% compared to the year before.
“In another year of global uncertainty, Etihad Airways has continued to move forward, strengthen its business, and build on its world-class travel proposition,” said Tony Douglas, Group Chief Executive Officer.
“As always, this has been thanks to our remarkable people who have gone above and beyond to make the most of every opportunity. Despite the slowdown caused by Omicron, we are confident that the spring and summer season will continue to see a resurgence in travel as more people return to the skies.
“We look forward to our guests being able to experience our state-of-the-art Airbus A350s when they debut later this year, taking pride of place alongside our Boeing 787s.
“With one of the most fuel-efficient fleets in the world and with sustainability at the very top of our agenda, we will continue to pave the way for more sustainable flying in 2022 and beyond.”
Earlier this week, the UAE announced that fully-vaccinated travellers arriving in the country will no longer be required to show a negative PCR test on arrival.
Passengers will now only be required to present an approved vaccination certificate with a QR code.
In light of the good news, Etihad Airways will increase its Melbourne and Sydney services from five per week to daily from 27 March 2022, offering a total of 14 weekly flights between Abu Dhabi and Australia.
Despite its financial woes, Etihad remains one of the two premier airlines in the United Arab Emirates and among the Middle East’s top carriers.
The airline is remaining optimistic and looks ahead to the international #ArrivalRevival.
Source: AAP
