Etihad is in the midst of re-organizing its business. The airline that launched after Gulf Air eliminated its Abu Dhabi hub by hiring away Gulf Air’s CEO adopted a strategy of buying stakes in troubled airlines around the world and redirecting their connecting traffic through Abu Dhabi. But that didn’t work out very well — the available carriers were in some cases real basket cases and not candidates for turning around with new uniforms and group purchasing agreements.
When energy prices dropped the Al Nahyan family’s appetite for absorbing losses in exchange for growing an international hub airline ran out.