The eventful year 2012 will be remembered in the history of the UAE’s aviation industry for a number of developments — the first being Etihad Airway’s acquisition of stakes in a number of airlines.
The nine-year-old has become profitable — for the first time in history — while most global carriers have been struggling. The airline currently has a fleet of 67 aircraft, flying to 86 destinations, serving more than 10 million passengers this year with more than 10,000 employees.
The UAE flag carrier picked up a 40 per cent stake in Air Seychelles, within a few months after acquiring a 29 per cent equity in Airberlin for just $105 million in December 2011 — followed by a 10 per cent stake in Virgin Australia and a 3 per cent stake in Aer Lingus later in 2012.
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