Abu Dhabi – Mubasher: Abu Dhabi-based Etihad Airways on Thursday reported a 15.4% year-on-year loss decline during the full-year 2018, logging $1.28 billion compared to $1.52 billion in 2017.
The emirate’s state-run carrier reported an improvement in core operating performance of 15% in 2018, 7% higher than forecast, as revenues reached $5.86 billion in 2018, against $ 6 billion a year earlier, the company said in a statement.
“In 2018, we continued to forge ahead with our transformation journey by streamlining our cost base, improving our cash-flow and strengthening our balance sheet,” Tony Douglas, the airline’s CEO, said.
Despite passenger numbers having dropped 4.3% in 2018 at 17.8 million, passenger yields increased by 4% driven by capacity discipline, network and fleet optimisation, and growing market share in premium and point-to-point markets.
Unit costs went down 3%, despite 31%higher fuel prices, data showed.
“Our transformation is instilling a renewed sense of confidence in our customers, our partners and our people. As a major enabler of commerce and tourism to and from Abu Dhabi, we are intrinsically linked to the continued success of the emirate,” Douglas added.
