Etihad Airways has announced that it is delaying the entry into service of five Airbus A350-1000 jets as part of a cost-cutting measure following three consecutive years of losses, including a massive US$1.28 billion loss last year.
The move comes as a result of a five-year expansion strategy begun in 2016 in an attempt to compete with rival Gulf carriers such as Emirates. Not only has the plan proved unsuccessful, but it has also put the Gulf carrier under undue financial pressure. “Etihad Airways will re-time the entry into service of five new Airbus A350-1000 aircraft as part of its ongoing business transformation plan,” said an airline spokesman. Of the aircraft ordered in 2016 as part of the original expansion strategy, Etihad has subsequently cancelled 40 A350-900s and two A350-1000. The five it has committed to taking delivery of are from an existing order for 20 of the model.
Speculation was rife ten days ago when a second A350-1000 ended up being mothballed in Toulouse instead of flying to Abu Dhabi after it left the paint shop in Hamburg, Germany.
