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14 Oct 2019, Gergana Bencheva, EMIS Editor

Etihad Airways aims to return to profit by 2023

The UAE’s national carrier Etihad Airways has an ambition to return to profit by 2023, Arabian Business reported referring to the group’s chief commercial officer Robin Kamark. Yet, he underlined that the goal was for cautious steady growth.

According to Kamark, the economic situation around the world in 2020 and 2021 would be tough. Yet, he underlined that the airline so far was delivering above what it had planned in the restructuring field. Earlier this year, Etihad Airways’ CEO Tony Douglas projected a return to modest growth in 2020.

Etihad Airways implemented a turnaround strategy back in 2017, envisaging a reduction of overhead costs and moving away from unprofitable routes. Despite the plan, the company still suffered a third consecutive year of annual losses in 2018, Arabian Business commented.

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Original source: Arabian Business