Etihad hits back at critics of its investment policy

[DUBAI] Etihad Airways PJSC said that the five European carriers in which it has invested or is seeking stakes would face thousands of job cuts and possible collapse without its involvement, hitting back at critics of its holdings.

Etihad is poised to become a "rescue investor" in Italy's Alitalia SpA, while Air Berlin plc, Aer Lingus Group plc, Air Serbia and Darwin Airline would all face route closures and higher fares at best without the Abu Dhabi-based carrier's support, chief executive James Hogan said.

"External investment is not a threat," Mr Hogan said at a European Union conference on air transport competitiveness in Vienna. "It is an opportunity to strengthen airlines, and to support employment and economic growth. Consolidation of airlines is critical to sustainable air services."