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Etihad pays $243m for stake in Air Berlin's loyalty programme
- United Arab Emirates: Wednesday, December 19 - 2012 at 01:51
Etihad Airways has agreed to buy a majority stake in Topbonus, Air Berlin's frequent flyer programme, for €184.4m ($243m), Bloomberg has reported. Under the latest deal with Etihad, Topbonus will be spun off as a separate company with its headquarters in the German capital, Air Berlin said. The new entity will continue to develop Air Berlin's frequent-flier programme on the basis of a commercial arrangement, and the carrier has the right to acquire 10% of the shares from Etihad.
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