Etihad Airways has purchased a majority stake in a new entity incorporated to own airberlin’s topbonus frequent flyer program, the first step in the establishment of a global loyalty management platform. The new entity will seek to offer new opportunities for topbonus members to collect and redeem topbonus miles around the world, including the ability to use PointsPayTM to convert miles into cash payments at more than 30 million outlets worldwide. Etihad Airways has taken a 70% holding in the new company, with airberlin taking the remaining 30%. The total transaction value is €200 million, which is being financed by

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