Abu Dhabi's long-troubled Etihad sells 38 planes for $1B

Abu Dhabi's long-troubled Etihad Airways said Tuesday it would sell 38 aircraft to an investment firm and a leasing company in a deal valued at $1 billion, the latest cost-cutting measure by the United Arab Emirates' national carrier. Etihad said it would sell 38 aircraft — 22 Airbus A330s and 16 Boeing 777-300ERs — in the deal with investment firm KKR and leasing firm Altavair AirFinance.

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