Friday, 1 February 2013

Etihad's calculated gamble

Full article in JPG format

The appointment of Wolfgang Prock-Schauer to the role of chief executive at airberlin last month, though unexpected, was by no means a complete surprise. His predecessor, Hartmut Mehdorn, 70, had been hired on an interim basis in September 2011 – shortly before Abu Dhabi's Etihad Airways acquired 29 per cent of the German carrier, becoming its largest stakeholder – and local media reports consistently painted a picture of strained relations with the new Gulf investor.

Even so, Prock-Schauer’s rapid ascension to the top job is yet another sign of seismic changes at airberlin since Etihad chief executive James Hogan invested in the troubled carrier...