Etihad Airways today announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of US$ 296 million (H1 2021: US$ 392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year.
Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75%. Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered. The airline saw a strong boost in passenger volumes in February as Abu Dhabi further relaxed pandemic-related restrictions.
Network capacity came in at 24 billion ASKs for H1 2022, growing by 46% compared to last year (H1 2021: 16.4 billion), as the airline connected Abu Dhabi to 71 passenger and cargo destinations across 45 countries. The first half of the year saw Etihad launch five summer services, including new seasonal routes to Heraklion on the island of Crete and the French city of Nice.
Tony Douglas, Group Chief Executive Officer, said: “Thanks to our transformation programme, Etihad is emerging from the pandemic stronger than ever, with a world-class fleet, an unmatched customer proposition and sustainability woven into every fibre of our business.
“As air travel came roaring back in 2022, Etihad was there to reconnect our customers with their loved ones and take them on their long-awaited vacations, carrying over 4 million passengers to and from our beautiful home of Abu Dhabi.
“Sustainability continued to be a priority area for Etihad as we entered our fuel-efficient A350-1000s into service and continued our industry-leading decarbonisation efforts, leading to Etihad being recently named Environmental Airline of the Year.
“Etihad Guest delivered record results this year as we continued to drive member engagement and launched Conscious Choices, the first green loyalty programme in the world to reward frequent flyers for making sustainable choices in the air and on the ground.
“Our results would not be possible without the hard work and commitment of the entire Etihad family, and our focus now is on continuing this momentum into the second half of the year.”
