Emirates not to buy European carriers' stake

Dubai-based Emirates said yesterday it is not interested in investing in European airlines, such as the low-cost carrier Air Berlin.

"We have decided not to buy stakes. We don't need them," said Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group.

A German press report said yesterday in an interview with Sheikh Ahmed, that Emirates seeks closer ties with rival Etihad but wants to remain a separate carrier.

"We are still on our own and that is fine," Sheikh Ahmed told the daily Die Welt, without elaborating on the form of co-operation under consideration with Abu Dhabi-based Etihad Airways.

An Emirates' spokesperson said the airline has no further comments to make on the subject.