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Etihad Airways says it lost $1.87 bn in 2016

ETIHAD AIRWAYS SAYS IT LOST $1.87 BN IN 2016

Abu Dhabi's Etihad Airways said Thursday it posted a $1.87 billion loss last year, hit by "one-off" impairments on aircraft and investments in troubled Alitalia and airberlin.

The government-owned carrier said total impairments amounted to $1.9 billion, including a $1.06 billion "charge on aircraft, reflecting lower market values and the early phase out of certain aircraft types."

"There was also a $808 million charge on certain assets and financial exposures to equity partners, mainly related to Alitalia and airberlin," the company said.

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