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Etihad CEO Hogan to Go as It Battles Losses at European Partners

Etihad Airways announced the exit of long-time chief executive officer James Hogan and will review the web of holdings he created in other airlines as the Persian Gulf company struggles with mounting losses from investments in Air Berlin Plc and Alitalia SpA.

The 60-year-old Australian will leave in the second half as Etihad reviews its own operations and the future direction of Hogan’s so-called equity alliance, which has seen the Abu Dhabi-based carrier take minority stakes in a variety of smaller and often ailing airlines across Europe and the Asia-Pacific.

Chief Financial Officer James Rigney will also quit Etihad to join Hogan at an investment company located outside the United Arab Emirates and not linked to the airline or its affiliates. A global search for a new CEO and CFO is underway, according to the company. Peter Baumgartner, who has run the main airline operation since Hogan became group chief in May, and Bruno Matheu, CEO for the equity partnership, are among leading internal figures.