Etihad Airways logs AED 22.41bn revenues in 2017

Abu Dhabi – Mubasher: Etihad Airways on Thursday revealed an increase in total revenues for the full-year 2017.

The second largest airline in the UAE registered AED 22.41 billion ($6.1 billion) in revenues last year, up 1.9% from AED 21.67 billion ($5.9 billion) in 2016.

Annual losses in Etihad Airways’ core operations declined by AED 1.58 billion ($432 million) to AED 5.58 billion ($1.52 billion) in 2017 from AED 7.16 billion ($1.95 billion) during the year earlier, a statement showed.

“This was a pivotal year in Etihad’s transformation journey,” Etihad Aviation Group chairman Mohamed Mubarak Fadhel Al Mazrouei stated.

Meanwhile, Etihad Group CEO Tony Douglas highlighted that the airline was making “good progress in improving the quality of revenues, streamlining costs, improving cash-flow and strengthening its balance sheet.”

During 2017, about 18.6 million passengers travelled via Etihad Airways.

“It is crucial that we maintain this momentum, retaining talent and attracting leading professionals from around the world to work alongside our highly-skilled UAE national workforce,” Al Mazrouei added.

Despite the positive results, it is worth noting that Air Berlin, Etihad’s 29%-owned unit suffered EUR 781.9 million ($824 million) in losses during 2017.

Mubasher Contribution Time: 14-Jun-2018 10:10 (GMT)
Mubasher Last Update Time: 14-Jun-2018 10:15 (GMT)

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