Etihad CEO Douglas Tightens Grip on Carrier to End Losses - Bloomberg

Etihad CEO Douglas Tightens Grip on Carrier to End Losses - Bloomberg:

Etihad Airways Chief Executive Officer Tony Douglas laid out plans to scale back the carrier’s global ambitions following almost $3.5 billion in losses, saying more jobs may be cut and that jet orders are in doubt after a “whirlwind” six-month review since he took charge.

Douglas will take personal responsibility for the main airline business, moving incumbent Peter Baumgartner to the new position of special adviser, and confirmed that Etihad will focus more on serving Abu Dhabi, where it’s based, than carrying globe-trotting passengers between continents.

The CEO revealed in an interview on Tuesday that thousands of jobs have already gone in the past 18 months as Etihad puts the brakes on a long-running and costly attempt to close the gap with larger Persian Gulf rivals Emirates and Qatar Airways. He’s also in negotiations with Airbus SE and Boeing Co. after concluding that doubling the fleet is no longer viable, calling into question scores of wide-body orders.