Etihad Airways managed to reduce its loss by $432 million to $1.52 billion last year despite its European equity partners Alitalia and airberlin entering administration.
The airline said other challenges during 2017 included ‘significant’ fuel price increases.
Revenues from core operations were up 1.9 per cent to $6.1 billion.
Both passenger and cargo yields improved following an increased focus on point-to-point traffic and improving market conditions. It carried 18.6 million passengers last year at a 78.5 per cent load factor. Unit costs were down 7.3 per cent despite the higher fuel costs, which the airline put down to a strong focus on efficiency.