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
-
Baffour Awuah deliberately refused to honour EOCO invitation – Deputy AG, Srem-Sai
10 minutes -
‘Believe in these players’ – Carlos Queiroz tells Ghanaians after leaving Black Stars job
10 minutes -
ECG announces planned maintenance outage in parts of Accra on Friday
22 minutes -
Carlos Queiroz sacked as Black Stars head coach
29 minutes -
Parliamentary Sports Committee to ‘interrogate’ Black Stars struggles with Ministry, GFA invitations
37 minutes -
Asutifi North Police arrest 7 in crackdown on suspected drug activities
48 minutes -
Attijariwafa Bank: What to know about the Moroccan Group taking over SG Ghana
51 minutes -
University Librarians Ghana honours past leaders for distinguished service
58 minutes -
Seychelles President leads high-level dialogue on Africa’s digital future at FALS Global Conversations in New York
59 minutes -
24-hour economy requires faster justice for commercial cases – Chief of Staff
1 hour -
Five Agric Colleges receive digital tools to drive climate-smart farming
1 hour -
GPL 2026/27: Kotoko face Karela test as Hamza Obeng takes temporary charge
1 hour -
Morocco strike late to overcome 10-man Black Starlets
2 hours -
Nyaho-Tamakloe calls on Kurt Okraku to resign amid Black Stars struggles
2 hours -
Societe Generale Group agrees to sell Ghana subsidiary to Attijariwafa Bank
2 hours