Etihad is still bleeding money. Is it time to merge with Emirates?
Dubai (CNN Business)Etihad Airways has often come to the rescue of struggling airlines. Now it has serious problems of its own and may have to consider merging with its bigger neighbor to cut its losses.
The Abu Dhabi airline has racked up about $4.7 billion of losses in the last three years as investments in Alitalia, Air Berlin and India’s Jet Airways turned sour and competition from rivals bit into revenue.
It’s a dramatic reversal of fortune for the second national carrier of the United Arab Emirates. Together with Emirates, based down the road in Dubai, and Qatar Airways, Etihad helped transform global aviation in recent decades by using its Gulf hub to fly millions of people between east and west.
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