Qantas to operate to Abu Dhabi, as itself

[Andrew P]

Comment made by Etihad Airway's CEO James Hogan, a Melbourne boy and Essendon supporter, on the ABC Inside Business program on Sunday

But more importantly with this Qantas code share, it gives us the ability to work closer with Qantas. They've made it clear that they intend to operate into Abu Dhabi in 2010. So we'll look for ways in which we can feed each other

Interesting

Banjo

[Michael Morrison]

I doubt w will see QF fly the route.

Sounds like they mentioned it to help with the bargaining.

I'm sure if QF are asked they will say how well the codeshare is working and that they don't need to fly their own metal there.

I mean surely there are better markets than AUH to be flying to.

[Dan H]

why is that so hard to believe?

[Rhys Xanthis]

Originally Posted by Andrew

I cannot believe Etihad have not been profitable for the last 5 years and only might make a profit in 2010...

Originally Posted by Dan H

why is that so hard to believe?

Dan is right, they have been buying and buying and buying new planes...its unfortunate for them they are really only getting them in this climate + expanding now lol!

[Michael Morrison]

Originally Posted by Andrew

Where is all the capital coming from to fund the 'worlds biggest aircraft order'?

From their owners - UAE/Abu Dhabi government I presume.

[D Chan]

Don't underestimate James Hogan - during his tenure in Gulf he managed to turn the then crippled carrier into making its first profit in 2003 since 1997.

[Dan H]

No doubt it is coming from the UAE Govt as it they are State owned. Have a look at the size of ADIA (UAE investment arm) to see the amount of $$ they have to play around with. Some estimates put ADIA portfolio value at in excess of $865b, in addition to the approx $1t in oil reserves they manage. Don't think 5yrs worth of losses sustained through EY operation would phase them....