Aviation Industry

UAE airline Etihad announces loss of $1.87B in 2016


Etihad, the flag carrier of the United Arab Emirates, says it lost $1.87 billion in 2016.

The Abu Dhabi-based airline announced the massive loss in a statement Thursday.

Etihad blamed "one-off impairment charges and fuel hedging losses weighed against a solid performance of the core airline."

The announcement of the loss comes after the January announcement that former CEO James Hogan had left the airline. Hogan led an aggressive multi-year buying spree that saw the Mideast carrier snap up stakes in airlines from Europe to Australia.

Both Etihad and Dubai-based Emirates have been hurt by a one-time ban on laptops in the cabin on flights to the U.S. by the Trump administration that was just lifted. The Trump administration"™s travel ban on majority Muslim nations also hurt the carriers…

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Fuente: http://business.financialpost.com/business-pmn/uae-airline-etihad-announces-loss-of-1-87b-in-2016/wcm/d763a24c-039e-4b46-a362-0024bb0986c6

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