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Etihad Cargo records strong performance

March 14, 2019 / aircargonews

Abu Dhabi-based Etihad Airways has reported a loss of $1.28bn for 2018, an improvement on the $1.52bn loss it suffered the previous year.Total revenue fell from $bn to $5.9bn year on year. However, the airline said it had succeeded in improving its core operating performance by 34% – despite challenging market conditions and rising fuel prices – since introducing its five-year transformation programme in 2017.In particular, it said: “Etihad Cargo recorded a strong performance for [2018] largely due to a lower cost base, a programme of efficiency improvements including the consolidation of the freighter fleet around the Boeing 777F, and a refreshed network focusing on core trade lanes leveraging Abu Dhabi’s geographical position to maximise freighter to belly-hold flows.”Cargo revenue for the year totalled $827m (down from $877m in 2017). Cargo freight tonne kilometres fell from 4.3bn to 3.4bn (down 21%), but yields increased by 15.5%.During 2018, Etihad&rs...