airberlin delivering returns to Etihad Airways 'far in excess' of expectations

Etihad Airways president and CEO James Hogan said (27-Apr-2016) airberlin has taken longer than expected to reach sustainable profitability, but the returns to Etihad are "far in excess" of original expectations. Etihad received more than USD500 million in total direct revenues and airberlin now delivers more than USD150 million p/a. Mr Hogan said airberlin also contributes cost synergies of more than USD100 million and the partnership contributes more than USD630 million p/a to Abu Dhabi's economy. Mr Hogan said Etihad remains committed to the restructuring of airberlin. [more - original PR]