Abu Dhabi’s Etihad Airways reports $1.52bn loss for 2017

Etihad Airways reported a $1.52bn loss for 2017 on Thursday, its second consecutive annual loss as the Middle East airline undertakes a major turnaround plan.

The result compares with a prior year loss of $1.95bn, which it restated from $1.87bn.

Etihad has been overhauling its strategy since 2016 with changes to top management, dropping unprofitable routes, and retiring operationally costly aircraft.

The airline said in a statement that its revenue rose 1.9 per cent to $6.1bn and it carried 18.6 million passengers, flat compared to the previous year.

Gulf Business Contribution Time: 14-Jun-2018 08:49 (GMT)
Gulf Business Last Update Time: 14-Jun-2018 08:49 (GMT)

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