News / Air cargo slowdown puts a dent in Etihad financial performance for 2016

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Etihad has announced a fairly significant loss for full-year 2016, of $1.87bn.

However, the carrier also reported impairments of $1.9bn, including a $1.06bn charge on aircraft as it phased out some types early.

It also had an $808m charge on some assets, as well as financial exposure to struggling equity partners, mainly Alitalia and airberlin.

Although it flew slightly greater volumes of cargo in 2016 – up 0.8% to 595,519 tonnes, freight revenue fell nearly 10% to $900m.

It said in a statement: “A slowdown ...