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…
