Etihad Airways slashed orders worth $21.4 billion at list prices for Boeing Co. and Airbus SE jetliners, pushing forward with a drastic restructuring after years of operational losses.
The state-owned Gulf carrier cut its order for Boeing 777-9 aircraft to 6 jets from 25, while canceling delivery of 42 Airbus A350 wide-bodies, 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 program after a dozen years.
“This will enable the airline to further progress its transformation and adjust to its new operating model,” Etihad said in a statement. The airline “can now concentrate on the phased introduction of new aircraft types, enabling an efficient rationalization of its fleet, and building a network that connects Abu Dhabi to the world.”
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.
Etihad has 43 unfilled orders from the 787 family, according to Boeing’s January monthly report.
Latest Stories
-
Kow Essuman champions arbitration and investment at AEA Congress in Madrid
52 minutes -
A new dawn in Ghana’s economy – Kudos to the men steering the ship
1 hour -
“Swearing-in fiasco broke me” – Naa Momo Lartey
2 hours -
Ghana’s roadmap to a safer future through Tobacco Harm Reduction: Reflections on the Lives Saved Report
2 hours -
KIA dispels “false” safety breach reports
2 hours -
External sector outlook favourable; Gross reserves amounted to $10.7bn in April 2025 – BoG
2 hours -
Consumer, business confidence shows significant improvement, highest in 7 years – BoG
2 hours -
What SML’s critics want is a return to manual accounting so they can exploit loopholes – Yaa Sarpong fires back
3 hours -
Video: Adenta Kumi jubilates with NPP party officials after release from NIB custody
3 hours -
A legacy of excellence: The transformational journey of Kwaku Yeboah-Asuamah at miLife Insurance Ltd (2016–2025)
3 hours -
I wish I answered some questions differently in my early days interviews – Gyakie
3 hours -
Gender Minister shares her journey of unexpected calling into politics
4 hours -
Amelley Djosu: GTA represents all Ghanaians, not just NDC
4 hours -
Saboteurs see SML as a threat – Yaa Serwaa Sarpong
4 hours -
Bank of Ghana has no target rate for cedi appreciation – Governor Asiama
4 hours