News: Etihad cuts Airbus and Boeing orders
Etihad has restructured its outstanding orders for Airbus A350-900s, A350-1000s, and Boeing 777-8s and 777-9s. The Abu Dhabi-based airline has confirmed that will take five A350-1000s and six Boeing 777-9s, along with its entire order for 26 A321neos, "over the coming years."
However, the firm said the balance of its orders which comprise a further 15 A350-1000s, 42 A350-900s, eight 777-8s and 11 777-9s "will be defined at a later time through rescheduling, restructuring or reduction." Etihad is also currently taking delivery of Boeing 787s with 28 or 71 already handed over, and deliveries are expected to continue.
Etihad is continuing to take delivery of Boeing 787s while cancelling or
postponing its commitments for other widebodied jets. (BriYYZ)
Etihad said that it has agreed terms for the changes with Airbus and Boeing, but has agreed not to disclose details of the transactions.
The struggling Middle East carrier placed its large orders in 2013, before its strategy of acquiring minority stakes in other carriers started producing significant losses. It has recently undertaken a wide-ranging business review that has included the disposal of aircraft, reduction in headcount running to more than a thousand, and a refocus on travel to and from Abu Dhabi rather than attempting to build an intercontinental hub to rival Dubai. The airline currently flies 10 A380s, 19 777-300/ERs. 24 787-9s and 5 787-10s alongside 16 A330-200s / -300s that are being retired.
Text © The Aviation Oracle