DUBAI, United Arab Emirates | Etihad restructures plane purchases amid fiscal turbulence

14Feb - by Editor - 0 - In STL.News

DUBAI, United Arab Emirates (AP) — Abu Dhabi-based Etihad Airways said Thursday it has restructured planned airplane purchases from both Airbus and Boeing as the government-owned carrier struggles through serious financial turbulence.

Once making headlines in 2013 for fleet purchases valued at $67 billion, Etihad has seen its strategy of rapidly buying stakes in other airlines to expand its global footprint expose it to major losses.

In its last two reported financial years alone, the airline hemorrhaged nearly $3.5 billion in losses.

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