Дата: 04-07-18 11:00

Etihad reveals restructuring plan, airline CEO steps down

UAE-based Etihad announced it would restructure its operating model from June 3, 2018. The aviation group will now be divided in seven business branches under the supervision of CEO Tony Douglas.

Douglas will also assume the position of CEO at Etihad Airways. Meanwhile, Peter Baumgartner who is leading the airline since 2016 will step down to serve as Senior Strategic Advisor.

Etihad reveals restructuring plan, airline CEO steps downImage : Kiefer

The six departments will be: Operations, Commercial, Maintenance, Repair & Overhaul (MRO), Human Resources, Finance, Support Services and Transformation.

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This restructuring is the new phase in Etihad turnaround strategy, after some positive early results. “The eventual aim of this process is for Etihad to be in the best shape to ensure its long-term sustainability,” Douglas is quoted in an official statement.

The trimming of operations will likely lead to some job redundancy and eventually - job cuts, reports Reuters.

A year after its record loss of USD 2 billion in 2016, the company still reported a loss of USD 1.5 billion in 2017 financial results. The state-owned carrier managed to reduce cost by 7.3% while increasing revenue by 1.9USD in 2017. In total, Etihad reduced loss by USD 432 million and improved its operating performance by 22%, despite increasing fuel cost and Alitalia and Air Berlin failures.

In June 2018, the airline from Abu Dhabi was rumored to be in negotiations with Boeing for a cancellation or delay of its order of 25 B777X. Along with fellow Gulf carriers Emirates and Qatar Airways, Etihad is supposed to be a launch company of the new wide-body twin-engine.

Meanwhile Air Serbia, the last European company with Etihad as a minor stakeholder (49%, the remaining 51% being owned by the Serbian government), announced the equity partnership should be maintained.

Источник информации: AeroTime

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