Etihad reports USD1.7 billion annual loss
Abu Dhabi based Etihad Airways is still targeting a 2023 return to profit after posting a loss of $1.7 billion for 2020. Annual operating revenue fell 52% to $2.7 billion and passenger traffic was way down by 76% to 4.2 million.
It is the airline’s fifth annual loss on the bounce as it spent big to compete on market share with Gulf rivals Emirates and Qatar Airways. It has accumulated losses of about $7.3 billion since 2016.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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