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FINANCIAL NEWS
Partnering with Etihad Airways would save airberlin up to USD150m
06 Sep 2012
(MENAFN) Paul Gregorowitsch, chief commercial officer at airberlin said the airline would save up to USD150 million from its partnership with Abu Dhabi-based Etihad Airways, Arabian Business reported.
CEO Hartmut Mehdorn, added that the partnership with Etihad had significantly helped the carrier to overcome crisis.
Earlier this month, the loss-making airline said it had lost USD81 million during the first quarter of 2012, widening from a USD55.14 million loss a year ago.
Etihad Airways, which owns 29 percent of airberlin, was reported to have agreed to inject USD255 million in the airline, of which USD113 million was allegedly drawn down in the first quarter.
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