Etihad’s Hogan Weighs Alitalia Deal to Cap Empire - Bloomberg:
"From Serbia to the Seychelles, Etihad Airways Chief James Hogan is being greeted as a savior for his willingness to bail out cash-strapped carriers.
Since 2011 the Australian has acquired stakes in seven companies spanning Aer Lingus on Europe’s western fringe to Virgin Australia (VAH) Holdings Ltd. on the shores of the Pacific, feeding more traffic via Abu Dhabi, Etihad’s desert hub with a population of less than 1 million. His next move may be the boldest yet: Alitalia SpA, a carrier dogged by bloated payrolls, state meddling and chronic losses.
Hogan’s investment in a clutch of ailing airlines over which he has limited control comes a decade after a similar strategy led to the collapse of Swissair and as top industry players eschew partial holdings in favor of global alliances. What sets Etihad apart is funding from an oil-rich state eager to match the growth of Qatar Airways Ltd. and Emirates, the No. 1 international carrier based less than 100 miles away in Dubai."
'via Blog this'
No comments:
Post a Comment