Etihad Airways narrows annual loss by 32% to $870 million – The National

Etihad Airways narrows annual loss by 32% to $870 million – The National

Abu Dhabi airline records rise in yields and seat load factors in 2019. Etihad Airways narrowed its annual loss by 32 per cent last year, beating its own internal targets, as the Abu Dhabi airline made progress on its turnaround plan.. "Operating costs were reduced significantly last year and both yields and load factors were increased despite passenger revenues being down due to network optimisation.. The state-owned airline began a five-year turnaround plan in 2017 - when Mr Douglas was hired - that has reduced overhead costs, dropped unprofitable routes, cut jobs and restructured plane orders.. Yields rose by 1 per cent, driven by capacity reduction and the airline growing its market share in premium and point-to-point markets.. Seat load factors rose to 78.7 per cent, from 76.4 per cent in 2018.. Passenger demand to and from Etihad's 10 routes in India was "strong," despite the collapse of its partner Jet Airways, and the airline added seats in these markets early in 2019.. It handled 635,000 tonnes of cargo last year, a drop from 682,100 tonnes a year ago, with cargo revenues also falling to $700m from $830m.. Last year, the global air freight industry recorded its worst performance since