Daily Business Wrap - Etihad Airways losses mount for third year in a row - video Dailymotion

Etihad Airways reports $1.28 billion in losses in 2018 , and Boeing grounds entire global fleet of 737 Max aircraft after fatal Ethiopian Air crash.

Transcript

00:00The losses just keep mounting for Etihad Airways.

00:04The Abu Dhabi-based airline on Thursday reported $1.28 billion worth of losses for 2018, marking

00:10its third consecutive year of losses.

00:12This follows around $1.5 billion of losses in 2017 and nearly $2 billion of losses a

00:18year earlier.

00:19The airline is now in the midst of a restructuring process to attempt to turn around its fortunes

00:23and recover from sour investments it made earlier.

00:26Etihad did not elaborate on where exactly the losses came from for 2018, but it certainly

00:31didn't tell the airline that passenger numbers fell to 17.8 million from 18.6 million in

00:372017.

00:38And it's still a busy week for the aviation world.

00:41Boeing just announced it is grounding its entire fleet across the world of 737 MAXs

00:46after the fatal crash of an Ethiopian Airlines plane of the same model on Sunday.

00:51Many airspace regulators around the world have already ordered the suspension of any

00:54commercial operations of Boeing 737 MAXs, including in the UAE, Australia, China, and

00:59Singapore.

01:00On Thursday, Boeing was the latest to announce that it will suspend its entire fleet of Boeing

01:04737 MAXs around the world, and right now there are about 371 in operation across the globe.

01:10And finally, ports operator DP World announced on Thursday that its profits for 2018 jumped

01:15by 10% as revenues grew on the back of acquisitions it made during that year.

01:20The company reported $1.3 billion in profits in 2018, even as it cited trade disputes and

01:26geopolitical challenges across the world.

01:28DP World said it expects to continue delivering growth in 2019, even as it described the outlook

01:33as, quote, uncertain.

01:35For more details on these stories and more, please do check us out at gulfnews.com forward

01:39slash business.

01:40This has been the Daily Business Wrap.

01:41Thank you so much for watching.