Etihad Airways has bought a 3 percent stake in Irish airline Aer Lingus (AERL.I) as a precursor to a commercial tie-up that could help Abu Dhabi's flagship carrier gain more European routes to catch up with Middle Eastern rivals.
The deal also positions state-owned Etihad as a potential buyer of the indebted Irish government's 25 percent stake in Aer Lingus, which it is considering selling as part its international bailout.
After months of speculation about a possible deal, the airlines said on Tuesday that Etihad's stake purchase reflected "its desire to forge a commercial partnership," with Aer Lingus.
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