UAE's Etihad Airways has grounded its Airbus freighter fleet as the Gulf carrier works on a new strategy following its biggest loss of $1.87 billion in 2016, its first loss since 2010, said a report.

The carrier has been reviewing its business since 2016 after billions of dollars spent buying stakes in other airlines failed to deliver substantial returns, said a report in Reuters.

Etihad has grounded five A330F jets and has opted to operate an all-Boeing 777 Freighter fleet, the report said.

The Abu Dhabi-based airline is considering selling or leasing the Airbus freighters, it said.

Reuters also reported that pilots were asked to take unpaid leave on a voluntary basis, for periods as short as one week or as long as 18 months as it reviews its fleet requirements.