Etihad revises its orders from Boeing and Airbus due to heavy losses, sources claim
Abu Dhabi - Airbus and Boeing are preparing for possible changes in aircraft orders signed with Etihad Airways who has been suffering heavy losses due to wrong strategic decisions.
Etihad Airways has revised its strategic growth model as investments in other airlines in financial distress, notably Alitalia from which it has withdrawn, and bankrupt Air Berlin who contributed to a loss of almost billions of dollars for the national carrier of Abu Dhabi.
Etihad now is revising its aircraft orders of more than 160 devices for delivery delays, conversions, and direct cancellations, according to what internal sources told Reuters.
A final decision could be based on a combination of the three options.
So far, Etihad has ordered 88 Airbus and 78 Boeing that worth tens of billions of dollars, widely thanks to the contracts signed in 2013, which are deliverable in 2018. Orders include 114 widebody aircraft (62 Airbus A350 and 52 Boeing 787).
Neither Etihad, nor Boeing and Airbus commented on the speculations, but as a reminder, Etihad's new chief executive, Tony Douglas, said in his first public address on April 30 that the company's goal was to maintain sustainable growth.
It also adopted a "disciplined and measured" approach to evaluating new partnerships and remained optimistic. Tony Douglas also confirmed that his company would also consider possible partnerships in other areas with Emirates Group.