#AbuDhabi's Etihad Slashes $21 Billion of Airbus, Boeing Orders - Bloomberg

Abu Dhabi's Etihad Slashes $21 Billion of Airbus, Boeing Orders - Bloomberg:

Etihad Airways slashed orders worth $21.4 billion at list prices for Boeing Co. and Airbus SE jetliners, pushing forward with a drastic restructuring after years of operational losses.

The state-owned Gulf carrier cut its order for Boeing 777-9 aircraft to 6 jets from 25, while canceling delivery of 42 Airbus A350 wide-bodies, leaving it with 20. While the airline will continue receiving Boeing 787 Dreamliners, Etihad said it’ll decide what to do with the rest of the original order later, "through rescheduling, restructuring or reduction."

With the cancellation of $1.1 billion worth of A320neos last month, Abu Dhabi-based Etihad has taken $22.5 billion of orders off the table for the plane-manufacturing duopoly. The figures don’t include customary discounts that lower final prices. Airbus announced the loss of the A350s, a modern wide-body, on Thursday when it said it would shut down the older A380 superjumbo program after a dozen years.