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Thursday, 27 July 2017

Etihad Airways books $1.87b in annual losses | GulfNews.com

Etihad Airways books $1.87b in annual losses | GulfNews.com:

"Etihad Airways said it expected to continue facing headwinds in 2017 on the back of a challenging environment for the global aviation industry as the carrier reported $1.87 billion (Dh6.86 billion) in net losses for 2016.
The losses for the year mark a significant plunge from the $103 million in profits recorded in 2015. The plunge was due mainly to $1.9 billion the airline paid in impairments.

In a statement, the Abu Dhabi-based carrier attributed the losses to one-off impairment charges and fuel hedging losses. The $1.9 billion in impairments were mostly from a $1.06 billion charge on aircraft."



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