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Etihad's secret $3bn loan from Abu Dhabi royal family revealed
"Etihad Airways received massive financial support from the royal family of Abu Dhabi contrary to long-standing denials, documents obtained by Fairfax Media show. The state-owned airline had access to a secret, interest-free $US3 billion ($3.3 billion) loan from the Abu Dhabi ruling family that required no repayments until 2027, according to documents prepared for prospective financiers. Etihad chief executive James Hogan has repeatedly denied that the airline is subsidised." (www.smh.com.au) More...
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I'd like to have $3 billion interest free and not start repayment for about another 14 years. I believe I could start an airline and compete rather well.
You and me both.
Capital is the most important asset in such a capital-intensive business, except maybe reliable employees and reliable planes. But you can buy those with enough money, so we're back to the original premise.
The ME carriers have had this great advantage of sovereign capital who see their airlines as a strategic economic asset. Almost like the opposite of European carriers, burdened with policies and regulatory hurdles created by the EC.
Capital is the most important asset in such a capital-intensive business, except maybe reliable employees and reliable planes. But you can buy those with enough money, so we're back to the original premise.
The ME carriers have had this great advantage of sovereign capital who see their airlines as a strategic economic asset. Almost like the opposite of European carriers, burdened with policies and regulatory hurdles created by the EC.
who cares?
Dang, you're in a sour mood this morning. LOL
Thank god for Cabotage laws or we would all be flying Etihad from Chicago to New York in a few years, and it would all be paid for by our own petrol dollars.... a price already too high.
Who gets to own our airlines on the other hand, as long as individually it isn't more than a certain percentage - well, the same situation can still exist. Especially with global equity funds- it's nearly impossible to know who owns what anymore.
So much control, so much power - and we play by the rules and get beaten like seals. At some point we can't be boy scouts. At some point we must realize that if we are the only one playing fair that everyone else has an unfair advantage against us.
Lets re-regulate the industry, bring some balance and steadiness... I know my career would appreciate it. I will live if people don't get that extra 10 dollars off per ticket on Expedia !
Who gets to own our airlines on the other hand, as long as individually it isn't more than a certain percentage - well, the same situation can still exist. Especially with global equity funds- it's nearly impossible to know who owns what anymore.
So much control, so much power - and we play by the rules and get beaten like seals. At some point we can't be boy scouts. At some point we must realize that if we are the only one playing fair that everyone else has an unfair advantage against us.
Lets re-regulate the industry, bring some balance and steadiness... I know my career would appreciate it. I will live if people don't get that extra 10 dollars off per ticket on Expedia !
So thats how Manchester City won the English Premier league. The team is sponsored by Eithad and is expanding to New York City.
