Etihad Swings to Loss as Equity Partnerships Weigh on Finances | Aviation International News

Etihad Swings to Loss as Equity Partnerships Weigh on Finances

Abu Dhabi-based carrier attributes decline to range of factors, including Alitalia and Air Berlin exposure

By Gregory Polek • Senior Editor

July 27, 2017

Etihad Airways registered its first loss since 2010 last year, due largely to “one-off impairment charges” including financial exposure to equity partners such as Alitalia and Air Berlin, the Abu Dhabi-based airline reported Thursday. Recording a fiscal year 2016 loss of $1.87 billion, Etihad took $1.06 billion in aircraft charges related to lower market values and early retirements of certain models. Charges related to losses associated with now bankrupt Alitalia and foundering Air Berlin totaled $808 million.

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