Etihad Airways has posting a record core operating profit of $296 million for the first half of 2022 (H1 2021:$392 million loss).
The airline said the result was achieved despite fuel costs increasing by almost 60 percent in comparison to the same period last year.
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 percent.
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.
Tony Douglas, Group Chief Executive Officer, said, “Thanks to our transformation program, Etihad is emerging from the pandemic stronger than ever, with a world-class fleet, an unmatched customer proposition and sustainability woven into every fiber of our business.”
Etihad’s passenger revenues tripled in the first six months of the year, climbing to $1.25 billion (H1 2021: $320 million) as more business and leisure travelers returned to the air. This was supported by more countries across Etihad’s network relaxing their Covid-related travel restrictions.
Cargo operations revenues were $802 million in the first half of 2022, representing an increase of 6 percent on the same period last year.