Etihad invests in Air Berlin

Etihad Airways has increased its stake in Air Berlin, Europe’s sixth largest airline, to 29.21%, becoming the airline’s largest single shareholder. The strategic move, announced in Berlin by Etihad Airways chief executive officer James Hogan and Air Berlin CEO Hartmut Mehdorn, connects the airlines’ extensive networks and frequent flyer programs to offer travellers 239 destinations across 77 countries. Hogan said the deal was one of the most important in Etihad’s history. “This new partnership expands our network reach, gives us access to 33 million new passengers, and provides us with a real opportunity for global growth. Through Air Berlin, we gain immediate access to a broad and complementary European market, with outstanding connectivity options for customers of both airlines.”Under the partnership, Air Berlin will shift its Middle East operation from Dubai to Abu Dhabi and Etihad Airways will have two seats on the board of directors of the Air Berlin PLC. (http://www.etihadairways.com)