Etihads grand plan for global domination looks to be in deep trouble.
In July, the Abu Dhabi, United Arab Emirates-based aviation giant announced a staggering $US1.87 billion loss for 2016. This, after posting a $US103 million profit the previous year.
Etihad blames $US808 million of losses on financial exposure to partner airlines such as Air Berlin and Alitalia.
Now, things have gone from bad to worse.
On Tuesday, Air Berlin entered into administration, declaring itself insolvent and initiating a major restructuring. Air Berlins financial implosion happened just three months after Alitalias bankruptcy in May.
Together, Etihads total financial exposure to the two troubled European carriers edges north of $US…
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