Etihad restructures plane purchases amid fiscal turbulence
DUBAI, United Arab Emirates (AP) — Abu Dhabi-based Etihad Airways said Thursday it has restructured planned airplane purchases from both Airbus and Boeing as the government-owned carrier struggles through serious financial turbulence.
Once making headlines in 2013 for fleet purchases valued at $67 billion, Etihad has seen its strategy of rapidly buying stakes in other airlines to expand its global footprint expose it to major losses.