(MENAFN) The government of the United Arab Emirates has spent over USD14.3 billion in Etihad Airways, USD9.1 billion was granted through equity financing and USD5.2b through loans, Arabian Business reported.
The finance was granted so that the airline would operate commercially, yield decent profits, repay existing loans and deliver long time profitability, according to official statements.
"Our story is that of an airline that has chosen to challenge the status quo, bringing new competition to markets that have for too long been dominated by the major legacy airlines." The chief executive of the airline said.
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