Etihad subscribes to airberlin convertible bond as it reveals losses

Etihad Airways has welcomed airberlin’s decision to “accelerate structural change within the airline to target sustainable profitability”, the airline said in a statement today in response to airberlin’s financial results issued on Sunday night. airberlin announced a strategic review of its long-term business model as it reported its 2013 annual financial results. The predominant objective will be to restructure the airline and shape a robust business model that is fit for purpose in today’s competitive market conditions. For this purpose airberlin will strengthen its management board with the appointment of a Chief Restructuring Officer. In support of this restructuring, Etihad