Friday 23 May 2014

Etihad says it receives government loans, not subsidies | GulfNews.com

Etihad says it receives government loans, not subsidies | GulfNews.com: "Etihad



Airways said on Thursday that loans from the Abu Dhabi government do not amount to government subsidies, responding to an Australian media report that the Abu Dhabi ruling family is propping up the airline.



“We have received financial support from our shareholder, in the form of equity capital and shareholder loans, which is perfectly normal for any start-up business,” an Etihad Airways spokesperson told Gulf News in an emailed statement.



Etihad had access to a long-term interest free $3 billion (Dh11 billion) loan from the Abu Dhabi ruling family, that does not require payment until 2027, the Australian Financial Review reported on Wednesday citing leaked documents that have since been published online."



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