DUBAI – Abu Dhabi’s Etihad Airways swung to a core working revenue of $296 million within the first half of 2022 from a lack of $390 million a yr earlier.
The emirate’s state service, which didn't disclose internet revenue, mentioned its earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) rose to $690 million within the first half from $6 million in the identical interval of 2021.
Working income rose to $2.29 billion from $1.23 billion.
“Whereas ramping up our operations and recording a four-fold enhance in passenger volumes, we stored a decent maintain on our price base,” Chief Monetary Officer Adam Boukadida mentioned in a press release.
“Consequently, our working prices solely rose by 26% regardless of a 46% enhance in deployed capability.”
The state service has posted six consecutive annual internet losses, with amassed losses of $7.8 billion from 2016 to final yr. It launched a five-year turnaround plan 4 years in the past and mentioned final yr it was nonetheless focusing on a return to revenue in 2023.
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