Etihad posts $1.5bn loss, blaming partners and rising fuel costs

© Khunaspix Dreamstime.

Etihad has turned in another loss, albeit smaller than the previous one. Although it doesn’t publish full figures, it did announce a “core”, or operating, loss for its airline business of $1.5bn for 2017, following the $1.95bn it lost in 2016. It blamed the collapse of partner airlines Airberlin and Alitalia, restructuring and higher fuel costs. Turnover was $6.1bn, up 2% on a year earlier. Cargo volumes, however, fell some 7%, while capacity was reduced by 6%, but revenue fell just 0.8%. ATW reports. The poor results come at a time when speculation surrounding a possible merger with neighbouring rival Emirates is getting ever louder.