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Etihad Airways Could Post Annual Profit for 2022, Ahead of Plan, CEO Says

  • Gulf airline could post annual profit for 2022, ahead of plan
  • Restructuring helped company weather crisis, CEO Douglas says
Etihad has coped better with the coronavirus crisis than many other airlines after a major downsizing from 2017 slashed its cost structure and repositioned the company as a mid-size carrier.

Etihad has coped better with the coronavirus crisis than many other airlines after a major downsizing from 2017 slashed its cost structure and repositioned the company as a mid-size carrier.

Photographer: Christopher Pike/Bloomberg

Etihad Airways turned profitable in the first quarter, according to Chief Executive Officer Tony Douglas, who said it’s possible the Gulf carrier can post positive earnings for all of 2022, one year ahead of schedule.

While the surge in oil prices following Russia’s invasion of Ukraine will raise costs over coming months, earnings should get a further boost in the fourth quarter as demand rises toward the annual peak, Douglas said in an interview Thursday at the CAPA Airline Leader Summit in northwest England.