Etihad Airways CEO urges Europe to embrace external investment

Etihad Airways president and CEO James Hogan urged (03-Jul-2014) Europe's governments and airlines to embrace external investment to help strengthen the aviation sector. Mr Hogan said aviation is a global industry generating strong economic and social benefits and Etihad Airways wants to engage with Europe for mutual gain. Mr Hogan said Gulf carriers are not the cause of Europe's aviation challenges, citing congestion from under-investment in airports and airspace management, high operating costs at hub airports, high labour costs and "inconsistent and inequitable" taxes on airlines and passengers as the biggest issues facing the European industry. Mr Hogan said, "Consolidation of airlines is critical to sustainable air services. External investment is not a threat. It is an opportunity to strengthen airlines, and to support employment and economic growth." Etihad Airways holds a 29.2% stake in airberlin, a 4.99% stake in Aer Lingus and a 49% stake in Air Serbia. Etihad is also finalising the acquisition of a 33.3% stake in Darwin Airline (Etihad Regional) and intends to acquire a 49% stake in Alitalia, subject to regulatory approval. [more - original PR]