Etihad Airways posts $1.87 billion loss in 2016

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Etihad Airways posts $1.87 billion loss in 2016

Postby Greg on Thu Jul 27, 2017 11:13 am

Etihad Airways, one of the Middle East's three largest carriers, on Thursday reported a huge loss for 2016 as impairments on aircraft and exposures to equity partners weighed on its bottom line.

The Abu Dhabi-based carrier made a net loss of $1.87 billion for 2016 compared with a net profit of $103 million a year earlier, a statement from Etihad said.

It is the first time the airline has reported a loss since the 14-year-old airline started making money in 2011.


Reuters
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