Homer
Medlem
Abu Dhabi’s carrier Etihad Aviation Group is reportedly planning to dismiss president and chief executive James Hogan.
German business paperHandelsblatt Globalcited multiple independent sources as confirming Hogan’s departure, following what it described as a “failed spree of acquisitions in Europe”.
The airline is now planning to roll back its European investments, which include a 29 per cent stake in Air Berlin bought in 2011, a 49 per cent stake in Air Serbia acquired in 2013 and a 49 per cent stake in Alitalia acquired this year, according to the publication.
It said supervisory board chairman Ahmed Ali Al Sayegh would lead the effort, which could see the airline sell its European holdings at considerably less than their value.
The publication reported that Etihad had suffered $2.6bn in losses from its European investments.
Abu Dhabi's Etihad to dismiss group CEO James Hogan? - Gulf Business
German business paperHandelsblatt Globalcited multiple independent sources as confirming Hogan’s departure, following what it described as a “failed spree of acquisitions in Europe”.
The airline is now planning to roll back its European investments, which include a 29 per cent stake in Air Berlin bought in 2011, a 49 per cent stake in Air Serbia acquired in 2013 and a 49 per cent stake in Alitalia acquired this year, according to the publication.
It said supervisory board chairman Ahmed Ali Al Sayegh would lead the effort, which could see the airline sell its European holdings at considerably less than their value.
The publication reported that Etihad had suffered $2.6bn in losses from its European investments.
Abu Dhabi's Etihad to dismiss group CEO James Hogan? - Gulf Business