Abu Dhabi’s Etihad Airways this week announced it had signed a preliminary agreement with the Serbian government over a possible equity investment in the country's JAT Airways.
With its investment in India’s Jet Airways soon expected to be given regulatory approval, the Abu Dhabi carrier’s asset buying global policy seems to be paying off as its full-year net profits for 2012 increased 200 percent to $42m.
The UAE flag carrier has expanded globally through stake purchases in the likes of Air Berlin, Air Seychelles, Aer Lingus and Virgin Australia and revenue increased 17 percent to $4.8bn, while passengers rose 23 percent to 10.3m.
So which part of the world will be the final stop off on the Australian CEO’s global buying spree?
Arabian Business, with the help of aviation analyst Saj Ahmad, chief analyst at StrategicAero Research, looks at the options for the carrier and reviews some of its current acquisitions.