UAE’s Etihad Airways 2018 loss narrows to $1.3 bln

14/03/2019 Argaam

 

Abu Dhabi-based Etihad Airways has narrowed its 2018 loss by 16 percent to $1.28 billion after reducing cost, the airline said in a statement on Thursday.

 

Total revenue dropped 3.2 percent to $5.9 billion from a year ago, it added.

 

"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," said Tony Douglas, chief executive of Etihad Aviation Group.

 

The airline handled 17.8 million passengers last year compared with 18.6 million travelers in 2017 as it registered a 76.4 percent load factor. Total costs fell to $6.9 billion from $7.3 billion a year ago.

 

Etihad took delivery of eight new aircraft including three Boeing 787-9s, four Boeing 787-10s and one Boeing 777-200 freighter last year. 

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