Etihad Airways to cancel large jet orders from Boeing

Abu Dhabi – Mubasher: Etihad Airways is in talks with Boeing for the cancellation or deferring of 777X jets order worth billions of dollars.

The UAE-based carrier thinks that it is in no need for all the ordered 777X twin-engined aircraft and that cancellation penalties would not be as costly as the potential loss due to overcapacity, informed sources told Reuters.

Following a $2 billion loss in 2016, the state-owned carrier reviewed its fleet plans and began to shrink its business including cutting routes and decommissioning of some aircraft without replacements.

Etihad has ordered tens of billions of dollars’ worth of jets from Airbus and Boeing aircraft, as a part of a major expansion plan to keep pace with its rivals in the GCC.

Earlier in June, Etihad Airways posted a 1.9% year-on-year increase in total revenues in 2017, recording AED 22.41 billion ($6.1 billion).

Mubasher Contribution Time: 14-Jun-2018 11:08 (GMT)
Mubasher Last Update Time: 14-Jun-2018 11:08 (GMT)

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