Etihad reports USD1.7 billion annual loss

Abu Dhabi based Etihad Airways is still targeting a 2023 return to profit after posting a loss of $1.7 billion for 2020. Annual operating revenue fell 52% to $2.7 billion and passenger traffic was way down by 76% to 4.2 million.

It is the airline’s fifth annual loss on the bounce as it spent big to compete on market share with Gulf rivals Emirates and Qatar Airways. It has accumulated losses of about $7.3 billion since 2016.

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