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Coronavirus impact: Etihad has recorded Dh20.55 billion in losses since 2016

Aviation sector has suffered heavy losses around the world due to suspension of air travel.

Etihad Airways has made redundancies across several units due to the economic impact of coronavirus on the airline and slump in air travel.

“We are incredibly proud of our world-class workforce, however, we have had to make redundancies across several areas of our business to reflect current market conditions,” an Etihad spokesperson said in a statement.

Just like other carriers, the Abu Dhabi-based airline was forced to ground its fleet after restrictions were imposed on international travel. But now it is operating special flights and is also increasing their frequency – as well as adding new destinations to carry passengers to and from Abu Dhabi.

Reuters had earlier reported that the carrier, which employed over 20,500 employees last year, laid off hundreds of them including cabin crew this month in order to cut costs and conserve liquidity. Citing sources, it had then said more jobs were expected to be lost.

“The coronavirus pandemic has brought unprecedented challenges to businesses around the world, and Etihad is no exception. It is clear the demand for travel in the near future will be significantly reduced and as a result we must make difficult decisions to ensure Etihad will weather this storm,” the spokesperson said.

Etihad has recorded Dh20.55 billion in losses since 2016.


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