DUBAI, ABU DHABI
Etihad Airways has grounded its five Airbus freighters. The Gulf carrier confirmed to Reuters it has grounded its Airbus freighter fleet, five A330 Freighters, and that it had opted to operate an all-Boeing 777 Freighter fleet.
“This freighter is the right aircraft for our long-term requirements,” Peter Baumgartner, the chief executive of Etihad’s airline operations, said in an email to Reuters. Etihad operates five Boeing 777 Freighters.
The Abu Dhabi-based airline is considering selling or leasing the Airbus freighters, according to a source.
Etihad’s cargo operation slowed in 2016 to report flat growth of 596,000 tonnes handled.
The airline once owned as many as eight minority stakes in other airlines; two have been sold and another two have declared insolvency.
New Group Chief Executive Tony Douglas, who joined this month, is likely to have to decide what to do with those investments.
Etihad Airways has been reviewing its business since 2016 after billions of dollars spent buying stakes in other airlines failed to deliver substantial returns. This contributed to a $1.87 billion loss in 2016, its first loss since 2010.