UAE-Etihad records USD1.87bn loss in 2016
28 Jul 2017
(MENAFN) UAE’s Etihad Airways posted a net loss of USD1.87bn last year as one-off impairment charges and fuel hedging losses weighed against a solid performance of the airline.
Furthermore, the loss, which compares to a revenue of USD103mn in 2015, was the first of the carrier since it started making money in 2011.
Additionally, the core airline business achieved steady passenger profits of USD4.9bn and 79 percent load factors while carrying a record of 18.5mn passengers.
Whole impairments of USD1.9bn involved USD1.06bn charge on aircraft, showing lower market values and the early phase out of certain aircraft types.