Michael Cawley: Etihad’s investment in airberlin’s loyalty programme is not reflection of value

Ryanair former deputy CEO and COO Michael Cawley, speaking at CAPA's Airlines in Transition conference in Dublin, stated (11-Apr-2014) he believes Etihad's investment in airberlin's loyalty programme is not a reflection of the programme's value but rather is a way for Etihad to inject more capital into airberlin without violating airline ownership rules.