Wednesday, 21 December 2011

gulfnews : Way forward for Gulf airlines

Etihad Airway's surprise announcement of a deal to increase its shares in airberlin to 29.21 per cent might be overlooked by many as a mere extension of code-share arrangement or at best the acquisition of non-controlling stake in Germany's second biggest airline.
However, it is far more significant than what it seems. The deal is nothing short of "a corporate coup".
The two carry a combined total of more than 40 million passengers a year, operate 233 aircraft, and employ 18,000 people. Together, the companies generate more than $9 billion (Dh33.03 billion) in revenues.

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