Emirates denies Etihad takeover rumor

AP

Emirates Airline has denied a report that it is considering a
takeover of fellow Persian Gulf carrier Etihad.

Bloomberg reported that the
Dubai, United Arab Emirates-based airline could take over its
financially challenged rival based in neighboring Abu Dhabi to
create the world’s largest airline in terms of passenger
traffic. 

“There is no truth to this rumor,” an Emirates spokesperson
told Business Insider.

Etihad is in rebuilding mode after an aggressive global expansion
strategy with heavy investments in several struggling
international airlines left the carrier exposed
financially. 

This story is developing.