June 14, 2018 / 8:03 AM / in 6 days

Etihad Airways hit by second consecutive annual loss

DUBAI, June 14 (Reuters) - 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. (Reporting by Alexander Cornwell Editing by Alexander Smith)

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