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FINANCIAL NEWS
Etihad Airways looking for fresh acquisitions: Hogan
30 Sep 2012
(MENAFN) Abu Dhabi-based Etihad Airways, which owns a stake in Air Berlin, is looking for more acquisition opportunities, Reuters reported.
CEO James Hogan, speaking at an aviation conference in Abu Dhabi, said the airline is not looking for majority stakes over acquired assets, but to extend its reach and increase the capability to compete with its regional rivals, referring to Qatar Airways and Emirates Airline.
He added that Etihad would go on extending its codeshare network, which contributes with around 20 percent to its revenue.
Etihad Airways has been in a buyout spree in recent months, taking minority equity stakes in Virgin Australia and Aer Lingus and raising its shareholding in Air Berlin and Air Seychelles.
Hogan expects the airline to generate more than USD5 billion this year, defying pressures on the aviation sector from the global economic slump and high fuel costs.
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