Etihad Airways reported a $1.52 billion loss for 2017 on Thursday, its second consecutive annual loss as the Middle East airline undertakes a major turnaround plan.
The result compares with a prior year loss of $1.95 billion, which it restated from $1.87 billion. Etihad has been overhauling its strategy since 2016 with changes to top management, dropping unprofitable routes, and retiring operationally costly aircraft. The airline said in a statement that its revenue rose 1.9 percent to $6.1 billion and it carried 18.6 million passengers, flat compared to the previous year.
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