Etihad buys stake in Aer Lingus
Etihad Airways has acquired a 2.987% stake in Aer Lingus.
The airline said the purchase reflected its "desire to forge a commercial partnership with the Irish national carrier".
Etihad said it believes a possible partnership could produce "significant commercial benefits for both airlines".
Last year, Etihad increased its 2.99% stake in Air Berlin to 29.2% via the purchase of €73 million of new shares.
Industry observers believe it could do the same with Aer Lingus once the Irish government puts its 25% stake up for sale.
But according to the Financial Times, analysts say the 25% stake cannot be sold until a solution is found to a €700 million hole in a pension fund for staff and former employees of Aer Lingus and Dublin airport.
Further details on this issue are expected to be announced when Aer Lingus issues a trading statement on Thursday.
In addition to its stake in Air Berlin, Etihad also owns 40% of Air Seychelles and is reported to have been investigating a partnership with Air France KLM.
Etihad Airways operates 10 flights a week from Abu Dhabi to Dublin and has carried more than 750,000 passengers between the two capitals since it began flying the route in July, 2007.
The airline has a premium lounge at Dublin Airport, an engineering maintenance facility and has conducted recruitment drives across the country.
It also recently renewed its sponsorship of the Gaelic Athletic Association, signing a five-year deal.
Etihad Airways has strategic codeshare partnerships with 34 airlines around the world.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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