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            september 17, 2019

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Etihad Airways slashes US$21.4 billion in Airbus, Boeing orders


The UAE's Etihad Airways drastically cut US$21.4 billion in orders Boeing and Airbus jetliners, at list prices as it restructures the company after years of losses, reports Bloomberg.
The state-owned carrier cut its order for Boeing 777-9 aircraft to six jets from 25, while cancelling delivery of 42 Airbus A350 wide-body planes, leaving it with 20.
While the airline will continue receiving Boeing 787 Dreamliners, Etihad said it'll decide what to do with the rest of the original order later "through rescheduling, restructuring or reduction."
With the cancellation of $1.1 billion worth of A320neos last month, Abu Dhabi-based Etihad has taken $22.5 billion of orders off the table for the plane-manufacturing duopoly.
The figures don't include customary discounts that lower final prices. Airbus announced the loss of the A350s, a modern wide-body, on Thursday when it said it would shut down the older A380 superjumbo programme after a dozen years.
The airline has cut thousands of positions, put the brakes on a costly expansion and scrapped marginal routes, after almost $3.5 billion in losses in over two years. The airline is also being sued over an August 2017 decision to cut financial support for defunct German carrier Air Berlin.

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