ABU DHABI, July 27 (Reuters) - Etihad Airways, one of the Middle East's three largest carriers, on Thursday reported a huge loss for 2016 as impairments on aircraft and exposures to equity partners weighed on its bottomline.
The Abu Dhabi-based carrier made a net loss of $1.87 billion for 2016 compared with a net profit of $103 million a year earlier, a statement from Etihad said.
It is the first time the airline has reported a loss since the 14-year-old airline started making money in 2011.
The release of the financial results come amid a troubled period for the state-owned airline which saw long-serving veteran Chief Executive James Hogan depart on July 1.
Etihad appointed Irishman Ray Gammell as interim chief executive in May.
ABU DHABI, July 27 (Reuters) - Etihad Airways, one of the...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
