Abu Dhabi's Etihad sets up low-cost airline with Air Arabia - Reuters:
Etihad Airways and Air Arabia (AIRA.DU) are jointly setting up a low cost carrier in Abu Dhabi to tap into growing demand for budget travel from the United Arab Emirates’ capital, they said on Wednesday.
It is the first investment by Etihad in another airline since its ‘equity alliance’ strategy, which once saw it hold stakes in as many as eight other carriers, unravelled.
Air Arabia Abu Dhabi will be an independent joint venture based at Abu Dhabi International, the hub of Abu Dhabi state-owned Etihad, the two carriers said in a statement.
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