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Flexible travel for the future. The United Arab Emirates-based airline had accumulated losses of $586 million in the first half of 2019. The airline’s cargo operations also saw some improvement during the first quarter this year. Etihad Airways (Etihad), has provided details of its half-year (H1: January-June) 2020 performance, which saw a strong start to the year, with the airli The United Arab Emirates-based airline had accumulated losses of $586 million in the first half of 2019. Etihad Airways said it had started the year strong and ahead of target prior to the pandemic, but that the closure of international borders and the UAE's airports starting in March drove second quarter losses. Read more. Etihad is one of the Middle East's top carriers, but it was wracked by financial losses even before the pandemic devastated the aviation industry worldwide. Abu Dhabi's Etihad Airways said Thursday core operating losses amounted to $758 million for the first half of the year, driven by a nearly 40% drop in revenue due in part to the impact of the Understand your probability of having COVID-19 and decide if it’s safe for you to travel. Since 2016, Etihad has lost more than $4.75 billion as its strategy of aggressively buying stakes in Turn on desktop notifications for breaking stories about interest? Abu Dhabi's Etihad Airways posts $758M in half-year lossesNo parties, no trips: Colleges set COVID-19 rules for fallCoronavirus updates: MLB postpones another series due to virusCoronavirus updates: MLB postpones another series due to virusCatch up on the developing stories making headlines. Revenue dwindled by 38% to $1.7 billion.The long-haul carrier, which has been overhauling its cost structure since 2017 after a string of failed investments, was forced to make further cuts, including staff layoffs and temporary salary decreases ranging from 25% to 50%.“We have had to make some extremely difficult decisions to reduce the size of the workforce by several thousand,” said Chief Executive Officer Tony Douglas.Etihad, which raised liquidity from local and international lenders, expects to boost capacity to about 50% of its pre-covid level by September. COVID-19 self-assessment. Etihad is one of the Middle East’s top carriers, but it was wracked by financial losses even before the pandemic devastated the aviation industry worldwide. (Reporting by Alexander Cornwell; Editing by Edmund Blair and David Holmes)Etihad Airways Airbus A320 plane is seen at the National Airport MinskDisney's $30 'Mulan' plan will be litmus test for entire film industryLegion M, the first fan-owned entertainment company, announces seventh round of fundraisingThis 20-year-old college student biked for 48 days to return home amid the pandemicSpace industry is moving to 'leadership by seasoned execs': Space Capital partnerBeijing doesn’t want to “poison the business climate in China”, says expertStock market news live updates: Stock futures muted as investors look for more stimulus after Trump's virus orders'Impossible to stay quiet': Doctor sounds alarm on messy school reopenings amid the coronavirus pandemicNew bidders reportedly emerge for TikTok in the US as powerful critics assail the processStarbucks CEO: Customers seek a haven of the 'safe, familiar, and convenient' during coronavirusIs It Smart To Buy Quartix Holdings plc (LON:QTX) Before It Goes Ex-Dividend?
Start exploring. Abu Dhabi-based Etihad Airways said Thursday, Aug. 6, 2020, that its core operating losses amounted to $758 million for the first half of the year, driven by a nearly 40% drop in revenue due in part to the impact of the coronavirus pandemic. Revenue for the first half of 2020 stood at $1.7 billion compared to $2.7 billion during the first six months of 2019, even with this year's 27% reduction in operating costs.
Etihad is one of the Middle East's top carriers, but it was wracked by financial losses even before the pandemic devastated the aviation industry worldwide. Etihad is one of the Middle East's top carriers, but it was wracked by financial losses even before the pandemic devastated the aviation industry worldwide. Flexible travel for the future. Those services began to resume June.Its core operating loss was up nearly 30% from $586 million a year ago as the airline carried around 3.5 million passengers compared with 8.2 million in the first half of 2019.Total revenue fell 38% to $1.7 billion, though cargo revenue increased 37% to $490 million, it said in a statement.Aviation has been one of the industries worst hit during the COVID-19 crisis, forcing airlines to lay off staff and seek government bailouts. Like other major carriers, Etihad cut salaries for staff starting in April and had reportedly laid off an unspecified number of employees to reduce costs. Book before 31 August for freedom to change your travel plans if you need to. The airline’s cargo operations also saw some improvement during the first quarter this year. Etihad said 70% of its fleet was grounded during the second quarter of the year, bringing a nearly complete halt to its passenger numbers with the exception of special repatriation flights. Start exploring. Abu Dhabi's Etihad Airways said its core operating loss deepened to $758 million in the first half of the year as passenger traffic fell by nearly 60% due to the coronavirus pandemic. We’ll reward you with up to US $400 and up to 5,000 Etihad Guest Miles, and you … (AP Photo/Kamran Jebreili, File)

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