Etihad airways chief James Hogan to step down

James Hogan will step down as president and chief executive of the Etihad Aviation Group in the second half of this year, according to a statement from the company.

"Under his leadership, the company has provided new opportunities for thousands of Emiratis and has been a critical element in the remarkable progress of Abu Dhabi and the UAE. We look forward to James’ continued association with Abu Dhabi in new ways," said the group’s chairman Mohamed Al Mazrouei.

"We must ensure that the airline is the right size and the right shape." he said.

Hogan will join an investment company along with Etihad group CFO James Rigney, who will also leave the company later this year.

Etihad owns 49 percent of Alitalia, 29 percent of Air Berlin, 40 percent of Air Seychelles, 19.9 percent of Virgin Australia and three percent of Irish carrier Aer Lingus.

It also has a 24-percent stake in India's Jet Airways.

(With AFP, Reuters)