Etihad seeks $600M to finance new aircraft
After canceling orders of dozens of planes, Etihad Airways is now reportedly looking to raise $600 million to help finance the remaining of its orders.
This is not the first time Etihad is believed to be seeking financial help with its aircraft orders. In June 2018, the carrier was sending requests to banks to secure its Boeing orders worth $1 billion.
Etihad Airways has previously trimmed off its seizable aircraft orders, but even after cancellations, it still holds orders for 86 to 113 new aircraft, Boeing and Airbus books show.
For the past three years, the Abu Dhabi-based carrier has been posting billions in losses, that have accumulated to $4.67 billion so far. In 2018, the airline lost $1.28 billion. The latest results are better than the year before when the carrier lost $1.52 billion and its operational performance improved by 15% against 7% in 2017.