Etihad Airways

Etihad Airways joins UAE’s In-Country Value Programme

Move to boost Aviation’s contribution to the industrial sector

Etihad Airways has become the country’s first airline to join the InCountry Value (ICV) Programme. The Ministry of Industry and Advanced Technology (MoIAT) is expanding the programme’s scope to include new sectors like aviation as part of the national industrial strategy to sustain economic growth and raise the efficiency and competitiveness of the industrial sector.

The In-Country Value Programme, part of the UAE’s ‘Projects of the 50’, is a pillar of the national industrial strategy and benefits certified companies by increasing local demand for their products and services.

By joining the ICV programme, Etihad Airways will prioritize local suppliers and UAE companies in the procurement process. It will also encourage global suppliers to establish branches in the UAE, attracting more foreign investments to the country.

The signing ceremony was witnessed among others by HE Sarah Bint Yousef Al Amiri, Minister of State for Advanced Technology, and Mohammed Ali Al Shurafa, Chairman of Board of Directors, Etihad Aviation Group. The MoU was inked on behalf of MoIAT by HE Omar Suwaina Al Suwaidi, Undersecretary of the Ministry and for Etihad Airways, Tony Douglas, Group CEO, Etihad Aviation Group.

“The In-Country Value Programme is one of the pillars of the national strategy for advanced industry and technology, Operation 300Bn. It benefits certified companies by increasing demand for their products and services by redirecting government expenditure towards local companies,”” commented Al Suwaidi.

Etihad Airways reports record-breaking H1-2022 profits

Carrier flies past targets as EBITDA improves to US$ 691mn

Etihad Airways lately announced its financial and operating results for the first half of 2022, posting a recordbreaking core operating profit of US$ 296mn.

Etihad carried 4.02mn passengers in H1-2022, over three million more than the number for the 2021 corresponding period), with an average seat load factor of 75%.

“Our results would not be possible without the hard work and commitment of the entire Etihad family, and our focus now is on continuing this momentum into the second half of the year,” commented Tony Douglas, Group Chief Executive Officer.

Etihad’s passenger revenues tripled in the first six months of the year, climbing to US$ 1.25bn (H1-2021: US$ 320mn) as more business and leisure travellers returned to the air.

Cargo operations continued to deliver exceptional results with revenues of US$ 802mn in the first half of 2022, representing an increase of 6% on the same period last year. Revenues remained strong despite the increase in passenger volumes limiting belly-hold capacity, leading to a 19% reduction in freight carried (295,020 tonnes).

“Our transformation programme has made Etihad substantially more resilient and efficient, and we are extremely proud of our return to profitability in the first half of 2022,” stated Adam Boukadida, Chief Financial Officer.