8 forum postsNEW DELHI (WION) – Abu Dhabi’s Etihad Airways is still targeting a return to profit in 2023, despite a more than doubling in core operating losses last year, after accelerating its restructuring during the pandemic.
Etihad Airways has announced its financial and operating results for 2020, recording a 76% fall in passengers carried throughout the year (4.2 mln, compared to 17.5 mln in 2019) as a result of lower demand and reduced flight capacity caused by the unparalleled global downturn in commercial aviation. The airline recorded $1.2 bln passenger revenues in 2020, down by 74% from $4.8 bln in 2019.
The cargo operation, however, recorded an extremely strong performance, with a 66% increase in revenue from $0.7 bln in 2019 to $1.2 bln in 2020, driven by huge demand for medical supplies such as Personal Protective Equipment (PPE) and pharmaceuticals, paired with limited global airfreight capacity. Cargo yield saw an improvement of 77%.
kcastle (6 March 2021, 23:10)
Etihad airways is the first airline to have a fully vaccinated crew.
Rami (6 March 2021, 23:32)
pandemic or not, civil aviation is in a deep crisis, with too much overcapacity and low margins.
Richard from Dubai (7 March 2021, 00:16)
A lot of low-cost were virtually bankrupt by the end of 2019 (before COVID), especially in India. Too many planes ordered while facing a slowing economic growth and a poor consumer demand.
Stephen (7 March 2021, 02:32)
Airlines lost last year $80-90 billion and early estimate of 2021 losses is $16 billion. Some airlines have already collapsed, merged, or severely retrenched.
Blue Whale (7 March 2021, 02:51)
Boeing and Airbust will they survive this?
Odin (7 March 2021, 13:19)
American Airlines Boeing 737 MAX flight from Miami safely lands at Newark airport after captain shut engine down due to a problem with oil pressure.
https://www.dailymail.co.uk/news/article-9332497/American-Airlines-Boeing-737-MAX-flight-Miami-lands-Newark-airport-oil-pressure-problem.html
Boeing was already dying with the problems of its 737Max.
Stephen (7 March 2021, 18:17)
From AviationWeek:
The COVID-19 pandemic has led to a tale of two air transport industries: a passenger business that has nearly collapsed—with years expected before a full recovery occurs—and a cargo business that has demonstrated exceptional resiliency and is expected to post double-digit year-over-year (YOY) percentage traffic growth in 2021.
Stephen (8 March 2021, 13:41)
Cargo vs passenger;
https://images.jifo.co/41375675_1614360207260.jpg