Etihad CEO highlights plans for profitablity | ZAWYA MENA Edition:
"Despite facing a setback of nearly $2 billion in 2016 and losing out on investment partners Airberlin and Alitalia in 2017, Etihad's CEO said it was business as usual, with the airline constantly being driven by change to adapt to an ever-changing environment. "The core airline has always been operating in a very, very solid way even in most challenging times," CEO Peter Baumgartner said in an interview with CNBC. The 2016 oil price collapse had hit the Middle Eastern aviation market, including Etihad, which was moving forward on its big global ambitions. "In 2016, local regional markets contracted, accelerating the overcapacity situation on competitive overlapping traffic flows, bringing yields down, Baumgartner revealed during the interview."
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