Etihad own 51% and Air Arabia holds remaining stake in Air Arabia Abu Dhabi

Etihad own 51% and Air Arabia holds remaining stake in Air Arabia Abu Dhabi

UAE - Sharjah-based Air Arabia controls a 49 per cent stake in the recently-launched Air Arabia Abu Dhabi, the company's second-quarter financial results showed.A joint venture with the Abu Dhabi-based Etihad Aviation Group, the remaining majority stake of 51 per cent is controlled by Etihad, an Air Arabia spokesperson confirmed to Khaleej Times.Based in Abu Dhabi, the newly-launched carrier will meet the demand for low-cost travel in the UAE. Air Arabia Abu Dhabi has launched operations with direct flights to Egypt, Bangladesh, and Afghanistan, offering relief to cost-conscious expat workers in the capital.Air Arabia reported a net loss of Dh169 million for the first-half of 2020, impacted by the cancellation of scheduled flight operations due to Covid-19 in the second-quarter. The carrier has a sound liquidity position and Dh3.07 billion