Germany’s second-biggest carrier, almost 30 per cent-owned by Etihad, suffered a first-quarter loss before interest and tax (EBIT) of 188.4 million euros ($244.5 million).
The state-owned utility posted a net profit of Dhs106 million dirhams ($28.9 million) for the first quarter, compared with Dhs534 million for the year-ago period.
The 30-year venture puts Shell in position to renew its role in the UAE’s largest onshore oil concession when that contract comes up for renewal next year.