Etihad Is Unlikely to Break Even This Year, CEO Says (Update1) - Bloomberg.com
Etihad Airways, Abu Dhabi’s flag- carrier, won’t break even this year after its yields were hit by the global economic crisis and swine flu, Chief Executive Officer James Hogan said.
“If we’d had a better year in 2008 and 2009, we would have broken even this year,” he said in Abu Dhabi today. “The global financial crisis and the pandemic hit us in yield, pushed us back down to 2007 levels.” Etihad should break even next year, he added.
Airline losses worldwide amounted to $9.4 billion in 2009, almost double a previous forecast, as a swine flu outbreak compounded the effects of the recession, according to the International Air Transport Association.
No comments:
Post a Comment