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Airbus loses $2.3bn as Etihad cancels seven A350s

Etihad Airways has cancelled seven Airbus aircraft worth $2.3bn at current list prices, in a fresh setback to the European planemaker's largest twin-engined jet development, the A350-1000, Reuters has reported. The Abu Dhabi-based airline has now halved its order for the 350-seat jet in four months from 25 in November to 12 at the end of April, Airbus monthly figures showed. Etihad ordered the next generation of Airbus jets in July 2008, saying it would be among the world's most efficient. Airbus pushed back development of the stretched A350-1000 by two years when it decided to overhaul the design last year. The $320m jet is now due to enter service in mid-2017.