Emirates airline denies rumors of merger talks
Emirates, the Dubai Government-owned airline on Sunday denied any merger talks with Abu Dhabi Government-owned Etihad Airways - a rumour circulating in corporate circles for some time, as part of a so-called bailout package by the Abu Dhabi government.More, from AP:
"There are no merger talks taking place between Emirates and Etihad. We have no knowledge of the federal government or Abu Dhabi, or another airline taking a stake in Emirates," an Emirates spokesperson told Gulf News in an e-mailed statement.
Etihad also says it "can categorically state that there are no talks — either formal or informal" of a possible deal.The Times:
Merger speculation has grown in recent weeks amid concerns over the debt load carried by Dubai and its state-owned companies, including Emirates.
Emirates also says it has "no knowledge" that oil-rich Abu Dhabi, the UAE federal government or another carrier might take a stake in the airline.
As for rumours of their impending merger, Mr Clark [current Emirates president] was unequivocal: “What the ownership does with us is up to them, but we have been assured that no asset sale will take place.”Khaleej Times:
The British-owned Sunday Times reported that discussions have taken place between the Abu Dhabi national carrier and Dubai’s Emirates Airline, but both airlines have termed the report as misleading.
“We can categorically state that there are no talks — either formal or informal about any possible merger and acquisition activity between Etihad Airways and Emirates,” a spokesman for Etihad Airways told Khaleej Times on Sunday.
The British newspaper report stated that Abu Dhabi will buy a 30 per cent stake in Emirates Airline.