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Etihad boss eyes up to two more airline stakes

James Hogan says carrier looking to add to list of investments.
Aviation Business Awards 2010, NEWS, Aviation

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Abu Dhabi’s Etihad Airways is looking to acquire stakes in up to two more airlines, adding to its growing list of investments in a range of global carriers, CEO James Hogan told reporters on Wednesday.

"Maybe one or two more," he said, when asked about adding to the airline's existing stakes in Virgin Australia, airberlin, Air Seychelles and Aer Lingus.

"Anywhere there are opportunities for scale and taking out costs," he added.

Air France-KLM’s chairman and CEO Jean-Cyril Spinetta earlier this year confirmed speculation that the European carrier was in talks to tie up with Etihad, but denied it involved an exchange of stakes in either carrier.

"We are looking at how we can co-operate with Etihad," Spinetta said.

Etihad announced last month that revenues rose by 31 percent to US$1.25bn in the second quarter, helped by a 34 percent rise in passengers to 2.55m during the same period.

The Abu Dhabi-based airline cited its growing network of codeshares and strategic partnerships as a major factor behind the results. It said that recent deals had helped add 800,000 passengers to its network, contributing US$281m.
 

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