Etihad grounded five Airbus 330 freighters and opted for all-Boeing freighter fleet. Reportedly, the grounded aircraft are to be replaced by Boeing 777Fs as part of the restructuring effort the Gulf carrier is currently undergoing.
Etihad currently operates five Boeing 777 freighters. The grounded Airbus aircraft reportedly are going to be sold or leased, according to Reuters. The publication also quoted a source who said that pilots were asked to take an unpaid leave – the carrier declined to comment on that.
At the beginning of January 2018, Etihad also announced six new appointments to key roles at Etihad Airport Services Ground division, which manages Group’s investment in catering, ground handling, and cargo logistics operations businesses.
In July 2017 Etihad sent a shockwave when it reported an impressive loss of $1.87 billion for 2016, compared to a profit of $103 million in 2015. It was the first time the airline reported a loss since it became profitable in 2011. Consequently, a “comprehensive strategic review” was announced with the purpose to turn things around.
A couple months prior, in May 2017, Etihad announced the leave of the company’s long-term chief executive James Hogan, who was famous for his bold strategy of attracting traffic to Etihad’s Abu Dhabi hub by buying minority stakes in often troubled foreign airlines two of which – Alitalia and Air Berlin – filed for administration in 2017. Hogan’s strategy was rumored to be the reason for his leave and partially blamed for the carrier’s financial losses, as it saw an $808 million charge on certain assets and financial exposures to equity partners in 2017.
Source – AeroTime