Abu Dhabi-based Etihad Airways is negotiating with Cargolux to buy a 33.7 percent stake of the Luxembourg cargo airline, an Etihad official was quoted as saying on Sunday.
"Etihad has made a bid to take a 33.7 percent equity stake in Cargolux but the deal is not yet finalised," the unnamed official told the Gulf News daily.
The paper said sources close to the deal estimated the stake to be worth $130 million. Etihad Airways officials were not available to comment on Sunday, a public holiday in the United Arab Emirates.