Why Etihad Is a FAILURE, While Emirates Is a Success

July, 2003. Abu Dhabi launches Etihad, backed by one of the Wealthiest governments on earth. And within just 8 months after its Launch, the airline had placed the largest aircraft order in aviation history for a startup carrier. But this was just the beginning. Because just five years later, Etihad shocked the world when it placed an order for over 200 Aircraft worth almost $43 Billion. At the time, it was the Single largest aircraft order ever placed by any airline, anywhere in the world. At its peak, Etihad was the fastest-growing airline on earth. It operated the most luxurious flying product commercial aviation had ever seen, and it even held equity stakes in carriers across five continents. And then within just a few years of that peak, Etihad would lose billions of dollars, lay off nearly a third of its entire workforce, and cancel the majority of its aircraft orders JUST to stay afloat. For an airline with virtually unlimited government backing, this kind of collapse shouldn't have been possible. So what happened? How did the airline that should've been the next Emirates end up becoming one of aviation's biggest cautionary tale? And why, even after a painful recovery, is the airline once again inching dangerously closer to yet another collapse?