Etihad Airways is raising its stake in Air Berlin to 29.21 percent from 2.99 percent, as part of plans for strategic cooperation, Air Berlin said on Monday.
The move comes shortly after Etihad said a report it planned to raise its stake in Air Berlin was "inaccurate".
The cooperation includes a codeshare agreement. Air Berlin estimates the effects of the anticipated synergies to amount to about 35 million euros ($45.7 million)to 40 million euros in 2012, it said.
Air Berlin said it still plans to join the Oneworld alliance of airlines by European spring 2012.
The move comes shortly after Etihad said a report it planned to raise its stake in Air Berlin was "inaccurate".
The cooperation includes a codeshare agreement. Air Berlin estimates the effects of the anticipated synergies to amount to about 35 million euros ($45.7 million)to 40 million euros in 2012, it said.
Air Berlin said it still plans to join the Oneworld alliance of airlines by European spring 2012.
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