Etihad Airways Suffered Losses For The First Time In A Long Time But They’re Making Changes Now

Etihad Airways may have experienced losses to the extent of US1.87 billion in net losses for 2016.

2016 will have marked the first time for Etihad to report any losses, as they have just previously earned US103 million profits in the year before that.

The losses have allegedly been due to payments in impairments, field hedging as well as charges on specific assets and exposures.

What about 2017?

Group Chief Executive Officer, Ray Gammel, stated that the constantly evolving competitive environment is going to impact the performance of the airline in 2017.

As stated that 2016-2017 may have been one of the most challenging years for the airline, Etihad has been focusing on creating changes that will improve revenue as well as reduce costs for the current year.