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DUBAI, Aug 10 (Reuters) – Abu Dhabi’s Etihad Airways on Tuesday stated its core working losses halved within the first half of the yr to $400 million and that its liquidity place had returned to pre-pandemic ranges.
The state-owned provider, which over the previous yr has accelerated a pre-pandemic restructuring, stated it had lower working prices by 27% to $1.four billion within the first half.
That was helped by an almost 40% discount within the variety of plane utilized with the airline having grounded plane, together with its ten Airbus A380 superjumbos. It is usually phasing out of its 19 Boeing BA.N 777-300s.
The airline, which had 64 plane in operation within the first half, carried 1 million passengers, down 71.5% from a yr in the past. The common variety of seats crammed fell to 24.9%, from 71%.
Working income shrank 29.5% to $1.2 billion, whereas earnings earlier than curiosity, taxes, depreciation and amortisation swung to $100 million from a $100 million loss the yr earlier than.
Etihad has operated below harder restrictions than another United Arab Emirates carriers for the reason that nation lifted a months-long ban on most worldwide journey within the second half of 2020.
Abu Dhabi, the most important emirate and capital of the UAE, at the moment requires most worldwide arrivals to quarantine for a number of days whereas solely these from choose locations are exempt.
In neighbouring Dubai, the place airline Emirates is predicated, most worldwide arrivals are required to current a unfavorable coronavirus polymerase chain response (PCR) take a look at with out having to quarantine.
(Reporting by Alexander Cornwell; Modifying by Jon Boyle and Louise Heavens)
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