Etihad Airways has been struggling financially the past couple of years, and has been cost cutting to no end. The airline posted a 1.5 billion USD loss for 2017, with no signs of their operating performance improving materially anytime soon.
Continue reading: Etihad Airways Laying Off 50 Pilots This Month
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Please don't let James Hogan going into another airlines businesses!
RIP Etihad.....
Random thought:
Are higher oil prices a net negative or net positive for ME airlines you think?
On the one hand, high oil prices vastly increase their operating cost (fuel) and slam profit margins.
On the other hand, I imagine most if premium fare buyers come out of the woodwork in the ME when prices are high.
Just some musing.
Serious question and only slight off topic:
With a trip planned AUH-CDG on EY in August, should we be legitimately worried about flight cancellations? I'm hoping this recent spate of layoffs isn't a harbinger of worse things to come. I'd like not to be saddled with no way of getting home from AUH.
I hope nobody lets Hogan near a business again, let alone in this industry. He now runs 'Knighthood Capital' .. i think that says it all.
"some pilots find more lucrative contracts elsewhere." -are u sure about that? more lucrative than the Gulf rich oil countries?????
@schar, China offer some pretty crazy salaries for pilots at the moment. Especially as they often waive the tax for a number of years. I would imagine many pilots in China are paid higher than the Gulf at present.
Absolutely right - "@schar, China offer some pretty crazy salaries for pilots at the moment. Especially as they often waive the tax for a number of years. I would imagine many pilots in China are paid higher than the Gulf at present."
Guess if they're going to continue investing in one, Indian market is logical for that region.
Also funny
"Qatar Airways CEO: not interested in Jet Airways as backed by 'enemy' state" - http://in.reuters.com/article/jet-airways-m-a-qatar/qatar-airways-ceo-not-interested-in-jet-airways-as-backed-by-enemy-state-idINKCN1P90PK