Etihad Airways (EY, Abu Dhabi International) says it has reached agreements with each of Airbus and Boeing to restructure its order backlog with either manufacturer.

As of January 31, 2019, the Abu Dhabi-based carrier had twenty-six A321neo, twenty-two A350-1000s, and forty A350-900s due from the Europeans while from the Americans, it was expecting eight B777-8s, seventeen B777-9s, twenty-five B787-10s, and eighteen B787-9s.

However, in a statement issued on Thursday, February 14, Etihad said that “following a comprehensive strategic review," it had decided to engage Airbus and Boeing over the status of its order book. As such, following negotiations, it said only that it will take delivery of five A350-1000s, twenty-six A321neo, and six B777-9s “over the coming years.” It will also continue to "accept" its B787 orders. It is recalled that an order for ten A320neo, inherited from Jat Airways as part of Etihad's entry into Air Serbia, was terminated in December last year.

“The balance of the remaining orders will be defined at a later time through rescheduling, restructuring, or reduction,” it said.

“This will enable the airline to further progress its transformation and adjust to its new operating model. By restructuring a large portion of its previous orders, Etihad can now concentrate on the phased introduction of new aircraft types, enabling an efficient rationalization of its fleet and building a network that connects Abu Dhabi to the world.”

Etihad is currently in the midst of a restructuring programme aimed at plugging losses that, for 2016 and 2017, totalled USD3.47 billion. Along with the curtailment in its order book, it has also moved to phase out certain types from service including the B777-200(LR) and A330-200F.