Subscribe Free
in Air Transport

Etihad Airways reviews its strategy of investing in European airlines

Posted 21 December 2016 · Add Comment

Abu Dhabi-based Etihad Airways is reviewing its strategy of investing in European airlines and is seeking an exit in a shake-up that could lead to the departure of CEO James Hogan, company and industry sources told Reuters on Tuesday.

Etihad saw a strategy to take equity stakes in carriers like Air Berlin, Alitalia and Air Serbia as a way to expand its European network but losses have mounted with Air Berlin and Alitalia failing to turn a profit.

Etihad announced on Sunday it was cutting jobs, with local rival Emirates following a day later in reviewing its workforce as overcapacity and a stronger dollar squeeze earnings.

Hogan's expected departure, which could come within the next three months according to the sources, and the Etihad restructuring was first reported by German daily Handelsblatt, which cited several sources as saying Etihad wanted to start unwinding its European investments in January.

 

* required field

Post a comment

Other Stories
Latest News

Emirates introduces A380 on Riyadh route

Emirates is introducing the first scheduled Airbus A380 service to Riyadh, effective 21 April 2019. Riyadh will be the 51st destination to join the Emirates A380 network.

Rolls-Royce Tay 611-8 engine achieves 10 million flying hours

The Rolls-Royce Tay 611-8 engine, which entered service in 1987, recently reached 10 million flying hours in nearly five million flights.

Airbus will participate at Turkey’s IDEF 2019

Airbus will attend Turkey’s IDEF 2019, 14th International Defence Industry Fair, held in Istanbul from April 30 to May 3.

Export Bahrain partners with Gulf Air Cargo to offer special discounts on cargo exports

Export Bahrain has signed an exclusive partnership with Gulf Air’s Falcon Cargo to provide SMEs in the Kingdom of Bahrain, exporting their goods to the tune of 100 kilograms or above, with special discount of up to 40% on their cargo

Could Al Ain be the UAE’s sleeping superstar?

Al Ain International Airport is poised for growth – cargo is already expanding and the search is on for more passenger traffic, as Alan Dron discovered.

EgyptAir takes delivery of second B787-9 Dreamliner

EgyptAir’s second B787-9 Dreamliner has arrived today at Cairo International Airport. The aircraft is slated to operate flights from Cairo to Frankfurt by April 22nd.

EBACE SK1704230519
See us at
Connect MEIA BT1402010519ACCA19_BT2141218280219