Etihad CE looks to redefine airline’s future
Etihad Airways’ executive team is close to completing its strategic review and setting a new 5- and 10-year plan after being rocked financially by what its CE calls “a perfect storm.” Etihad posted a net loss of US$1.87b for 2016, reversed from a net profit of $103m in 2015. Exceptional charges were major factors behind the deficit, including an $808m charge on assets and financial exposures to equity partners, mainly related to Alitalia and Airberlin, which are now both in bankruptcy and in which Etihad owned stakes. Etihad was also affected by a fall in oil prices, which led to more capacity in the Gulf market. On top of that, terrorist events in Europe, the Trump travel bans and the US’ 5-month ban on laptops and other electronic devices in the cabins of aircraft all impacted demand for travel on the Gulf airlines. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-10-12/eap/etihad-ce-looks-to-redefine-airline2019s-future
https://portal.staralliance.com/cms/logo.png
Etihad CE looks to redefine airline’s future
Etihad Airways’ executive team is close to completing its strategic review and setting a new 5- and 10-year plan after being rocked financially by what its CE calls “a perfect storm.” Etihad posted a net loss of US$1.87b for 2016, reversed from a net profit of $103m in 2015. Exceptional charges were major factors behind the deficit, including an $808m charge on assets and financial exposures to equity partners, mainly related to Alitalia and Airberlin, which are now both in bankruptcy and in which Etihad owned stakes. Etihad was also affected by a fall in oil prices, which led to more capacity in the Gulf market. On top of that, terrorist events in Europe, the Trump travel bans and the US’ 5-month ban on laptops and other electronic devices in the cabins of aircraft all impacted demand for travel on the Gulf airlines. <br/>
