Audio By Carbonatix
Etihad Airways slashed orders worth $21.4 billion at list prices for Boeing Co. and Airbus SE jetliners, pushing forward with a drastic restructuring after years of operational losses.
The state-owned Gulf carrier cut its order for Boeing 777-9 aircraft to 6 jets from 25, while canceling delivery of 42 Airbus A350 wide-bodies, leaving it with 20.
While the airline will continue receiving Boeing 787 Dreamliners, Etihad said it’ll decide what to do with the rest of the original order later, "through rescheduling, restructuring or reduction."
With the cancellation of $1.1 billion worth of A320neos last month, Abu Dhabi-based Etihad has taken $22.5 billion of orders off the table for the plane-manufacturing duopoly.
The figures don’t include customary discounts that lower final prices. Airbus announced the loss of the A350s, a modern wide-body, on Thursday when it said it would shut down the older A380 superjumbo program after a dozen years.
“This will enable the airline to further progress its transformation and adjust to its new operating model,” Etihad said in a statement. The airline “can now concentrate on the phased introduction of new aircraft types, enabling an efficient rationalization of its fleet, and building a network that connects Abu Dhabi to the world.”
The airline has cut thousands of positions, put the brakes on a costly expansion and scrapped marginal routes, after almost $3.5 billion in losses in over two years. The airline is also being sued over an August 2017 decision to cut financial support for defunct German carrier Air Berlin.
Etihad has 43 unfilled orders from the 787 family, according to Boeing’s January monthly report.
Latest Stories
-
Alhassan Suhuyini makes Christmas donations to churches within Tamale North Constituency
35 minutes -
Meet 81-year-old father of UCC Acting Vice-Chancellor, who recently graduated with an MBA
53 minutes -
Did you know that Ken Ofori-Atta’s lawyer, Enayat Qasimi, is the ‘Ken Ofori-Atta of Afghanistan? – Kay Codjoe writes
60 minutes -
Kidnap suspect arrested in Tamale as Police rescue victim after four days
1 hour -
Tema Oil Refinery resumes crude refining after years of shutdown
2 hours -
Kojo Antwi thrills fans with regal entry, marathon performance at ‘Antwified’ concert
2 hours -
Ofori Amponsah surprises KiDi at ‘Likor On The Beach’ 2025
2 hours -
Joy FM thanks sponsors, partners and patrons after spectacular 2025 Family Party-in-the-Park
2 hours -
‘Christmas babies’ and their mothers in Volta and Oti regions receive MTN hampers
3 hours -
One dead, another injured after accident at Atwedie
3 hours -
Maggi Waakye Summit draws thousands as Ghana’s biggest waakye festival returns
4 hours -
Western Regional Minister urges Ghanaians to use Christmas to deepen national cohesion
4 hours -
Thousands turn Aburi Gardens into a festive paradise at Joy FM’s Party in the Park
4 hours -
Source of GOLDBOD’s trading funds questioned amid reported $214m loss
5 hours -
Kind Hearted Beings Charity spreads joy during festive season
5 hours
