Etihad Airways is a stakeholder in Jet Airways (India) Ltd. Photo: ReutersDubai: State-owned Emirates and Etihad, two of the Middle East’s top airlines, denied a Bloomberg report on Thursday which quoted unnamed sources as saying Emirates was seeking to take over Etihad to create the world’s largest carrier. “There is no truth to this rumour,” an Emirates spokeswoman told Reuters. Emirates is owned by the government of Dubai, the region’s tourism hub, while Etihad is controlled by the government of neighbouring Abu Dhabi, which thanks to oil exports is the wealthiest member of the United Arab Emirates. However, Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum ruled out a merger in May this year. A takeover could be politically difficult as Dubai and Abu Dhabi have long competed for business in some areas even as they cooperate in others.

Source: Mint September 20, 2018 14:26 UTC