Abu Dhabi – Mubasher: Etihad Airways seeks to obtain a $600 million loan to make initial payments for planes, people familiar with the matter told Bloomberg.
The Abu Dhabi-based carrier is arranging the facility on its own and has approached several banks that are willing to provide the unsecured facility that will have a maturity of one or two years.
The UAE airline has 43 unfulfilled orders from the Boeing’s 787 family, the New York-based news agency noted.
However, the company reduced orders worth $21.4 billion at list prices for Boeing and Airbus SE jetliners, going ahead with a major restructuring after years of operational losses.
Etihad Airways has slashed the order for Boeing 777-9 to only 6 jets instead of 25, in addition to cancelling the delivery of 42 Airbus A350 wide-bodies, leaving it with 20.
During the full-year 2018, Etihad Airways reported a 15.4% year-on-year loss decline, logging $1.28 billion compared to $1.52 billion in 2017.
