The Strategist

Etihad loses $520M in Q2 2020 due to pandemic

08/07/2020 - 07:50

The UAE's national carrier, Etihad Airways, which flies from the capital emirate of Abu Dhabi, lost more than half a billion dollars in the second quarter of 2020 due to the coronavirus pandemic, according to the company's financial report for the first half.

Oliver Holzbauer
Oliver Holzbauer
“Losses for the second quarter of 2020 were $ 520 million, losses for the first half reached $ 758 million, which is $ 172 million more than in the same period last year,” the report said.

As a result of the coronavirus pandemic, Etihad Airways had to cut passenger traffic by 60%.

At the same time, the airline noted that in the first six months of the year to the end of June, it carried 3.5 million passengers, which is 58% less compared to the same period in 2019. 

Since June, the carrier has resumed flights in a number of directions after the suspension of flights in March, and since July has been operating flights in 42 directions.