Etihad Airways blames rising fuel prices, costly investments as it stays in the red
Updated : June 14, 2018 03:34 PM IST
United Arab Emirates-based Etihad has been overhauling its business since it made a near $2 billion loss in 2016, by replacing its top executive, dropping unprofitable routes and retiring costly aircraft among other measures.
Middle East travel demand has slowed in recent years as budgets tightened under pressure of low oil prices.
Oil prices have rebounded sharply this year, potentially boosting corporate demand for air travel but they also mean a rise in fuel costs, one of the single largest operational expenses for airlines.