Etihad buys Aer Lingus stake in new European airline move by Abu Dhabi
Abu Dhabi yesterday threw more cash into European aviation when its flagship airline Etihad bought a 3 per cent stake in the Irish carrier Aer Lingus for about €15m (£12m).
The Middle East country, which owns Manchester City FC, raised its stake in Air Berlin to nearly 30 per cent from just under 3 per cent in December, paying €73m in cash and €255m in lending.
That saw Etihad beat rival Dubai-owned airline Emirates to receive a code-share agreement giving it access to Air Berlin's European short-haul network.
Now, after months of speculation about a more formal tie-up with Aer Lingus, Etihad has bought a stake in the Irish flag carrier. Etihad's chief executive James Hogan said his airline was interested in talks with the Irish government over its 25 per cent stake in Aer Lingus.
Etihad is trying to gain routes and market share quickly to catch up with the likes of Emirates and Qatar Airways.
However, it is not expected to raise the stake in Aer Lingus unless the two airlines agree a code share.
- 1 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Rashida Jones speaks out against male-centric porn saying 'women should have sex and feel good about it'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Putin opponent reveals Russian President's daughter's secret identity
Ball pool for adults opens in London
Gay couple buy JebBushForPresident.com web domain, and refuse to sell
16 Waitrose customers who could not cope with the end of free coffee
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...