Etihad Airways flies 18.6 million passengers in 2017

Etihad Airways flies 18.6 million passengers in 2017

Abu Dhabi – Home: Etihad Airways improved its core business performance by 22% in 2017, despite challenges including a significant increase in fuel prices and the bankruptcy of two Alitalia and Berlin Airlines, as well as initial investment in a comprehensive business conversion program . Revenue from core business grew 1.9 per cent to $ 6.1 billion ($ 2016.59 billion), while reducing core operations losses by $ 432 million to $ 1.52 billion (2016: $ 1.95 billion loss). The published results for 2017 are limited to the airline’s core operations and do not include exceptional costs or one-time costs, and the 2016 figures are re-stated for comparison purposes. The results of passenger and cargo revenues also showed improved rates of return as a result of changes in capacity and network of destinations with a focus on direct destination passengers, optimal utilization of technology and improved market conditions.
The strong focus on efficiency has resulted in a 7.3% reduction in unit costs, despite the adverse effects of a $ 337 million increase in fuel prices. The company also reduced administrative and general expenses by 14% or $ 162 million compared to 2016. Etihad Airways’ passenger traffic was 18.6 million with an occupancy rate of 78.5 per cent, while the average seating capacity per km increased by 1 per cent in 2017, reflecting a moderate growth in capacity, which improved the quality of the company’s revenues. Although the EU’s cargo capacity was reduced by 6%, revenues were only marginally reduced by only 0.8% thanks to strong load rates and rates of return. The volume of cargo transported by 552 thousand tons during 2017. “Etihad Airways remains one of the key drivers of Abu Dhabi’s vision to develop the tourism sector, promote trade and strengthen ties with regional and international markets,” said Mohammed Mubarak Fadel Al Mazrouei, Chairman of Etihad Airways. “2017 was a pivotal year for Etihad Airways’ business transformation. The Board of Directors, the Executive Management Team and all the staff have made great efforts to overcome the challenges we have faced, and we have made significant progress in improving performance and moving forward in 2018. ” “We have made good progress in improving the quality of our revenues, simplifying our cost base, improving our financial flows and strengthening our balance sheet,” said Tony Douglas, Group Chief Executive Officer. These are preliminary steps in moving our business towards sustainable long-term financial growth. I would like to thank our staff for their hard work and dedication during 2017. ” “We must maintain this momentum by maintaining our skilled staff and attracting leading business professionals from around the world to work alongside our highly skilled national workforce,” he added. Since its establishment, Etihad has focused on developing young national talent to be among the leading aviation professionals. At the end of 2017, the UAE has 2,729 Emirati employees, representing 11% of the total workforce of Etihad Airways. Etihad received 12 new aircraft in 2017, including two Airbus A380s, nine Boeing 787-9 Dreamliners and an Airbus A330F. The aircraft replaced 16 less modern Airbus A340, A319 passenger and A330F cargo aircraft, all of which were out of service, reducing the fleet’s average age to six years. In the year 2017, Etihad announced that it will stop its flights to Dallas / Fort Worth, Entebbe, Jaipur, San Francisco, Tehran and Venice, while starting new flights between Abu Dhabi and Baku, the capital of Azerbaijan, for the first time in March 2018 and announcing the launch of flights to Barcelona Effective 21 November 2018. The network also saw additional improvements with the launch of the Airbus A380 to serve one of the two daily flights to Charles de Gaulle Airport in Paris and the Boeing 787-9 Dreamliner on destinations in Amsterdam, Athens, Amman, Madrid, Beijing, Seoul, Shanghai, Nagoya and Melbourne. Flight time accuracy over Etihad’s airline network was 82% and 86% in 2017, which ranked the airline among the most reliable airlines in the world in 2017. The results of the departure time were 79% and 89% for arrival times For Abu Dhabi International Airport flights. Peter Baumgartner, Etihad Airways’ Chief Executive Officer, said: “The business transformation process has achieved tangible results to date, with significant improvement in performance in 2017.” “Revenue rates for passengers during the last quarter increased by 9 per cent over the same period in 2016, while the accuracy of departure and landing times was impressive. We continue to reduce operational costs while maintaining safety and quality standards in all areas of business. ” “The key to becoming a more active and resilient company in a highly competitive environment is the continued investment in specialized talent, technology and digital innovation, which will allow us to be smarter, faster and responsive to the changing needs of our customers. These developments are a key focus of our business transformation strategy. “

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