Abu Dhabi’s Etihad Airways restructures Airbus, Boeing jet orders

Etihad had placed orders for 26 A321neos, 40 A350-900s and 22 A350-1000s, as well as eight 777-8s and 17 777-9s. (File/AFP)
Updated 14 February 2019
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Abu Dhabi’s Etihad Airways restructures Airbus, Boeing jet orders

  • Etihad has committed to take delivery of five Airbus A350-1000s and 26 A321neos plus six Boeing 777-9s “over the coming years”
  • It has ordered more aircraft, mostly in 2013 when it went on a jet-buying spree

ABU DHABI: Etihad Airways said on Thursday it has agreed with Airbus and Boeing to restructure a “large portion” of its orders, in what appeared to be a major cut in long-haul jet orders.
The Abu Dhabi-owned airline said in a statement that it has committed to take delivery of five Airbus A350-1000s and 26 A321neos plus six Boeing 777-9s “over the coming years.”
However, it has ordered more aircraft, mostly in 2013 when it went on a jet-buying spree, and said in the statement that the “balance of the remaining orders will be defined at a later time through rescheduling, restructuring or reduction.”
According to Etihad documents and the manufacturers’ websites, Etihad had placed orders for 26 A321neos, 40 A350-900s and 22 A350-1000s, as well as eight 777-8s and 17 777-9s.
The airline said it will also continue to take delivery of Boeing 787 Dreamliners, but did not say how many it would take.
Etihad has so far received 28 of 71 Dreamliners it has ordered, according to Boeing’s website.
Etihad said it had reached agreements with Airbus and Boeing to not disclose details of the order changes.
The airline’s announcement comes after a lengthy strategy review that began in 2016 after it piled billions of dollars into a failed strategy of buying minority stakes in other airlines.
Etihad has reported losses in excess of $3 billion and thousands of employees have left, including long-serving chief executive James Hogan, since the review started.
Etihad’s new boss Tony Douglas said last year the airline was now focused on flying passengers to and from Abu Dhabi, rather than competing to be a major intercontinental airline.


Saudi Arabia, China sign $28 billion worth of economic accords

Updated 22 February 2019
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Saudi Arabia, China sign $28 billion worth of economic accords

  • A total 35 agreements had been signed at a joint investment forum held by Saudi Arabia’s investment agency SAGIA

DUBAI: Saudi Arabia and China signed economic cooperation agreements worth a total of $28 billion at a joint investment forum during a visit by Saudi Crown Prince Mohammed bin Salman to Beijing, Saudi state news agency SPA said on Friday.
It said 35 agreements had been signed at the forum, held by Saudi Arabia’s investment agency SAGIA. It also said four licenses for Chinese companies had been awarded at the forum.

The forum, which coincided with the official visit of Crown Prince Mohammed bin Salman China as part of his Asian tour, aimed at enhancing opportunities for joint cooperation between the two countries in various fields.

Other cooperation agreements signed during the forum included areas of the Kingdom's target sectors such as renewable energy aimed at activating cooperation and consultation frameworks in the field of investment development in wind turbines by manufacturing Electric control devices, wind turbine structures, turbine blades and wind generators with an investment of $ 18 million.

The agreement aims to open up to 800 new job opportunities in one of the most targeted sectors of sustainable development.