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Etihad Airways and Lufthansa have concluded a codeshare agreement, whereby the German airline will place its LH code on Etihad Airways' twice daily non-stop flights between Abu Dhabi and Frankfurt and its twice daily non-stop services between Abu Dhabi and Munich.

The UAE's national airline will, in turn, put its EY code on Lufthansa's longhaul, non-stop intercontinental services between Frankfurt and Rio de Janeiro and Bogota.

Moreover, Lufthansa's point-to-point carrier Euro-wings and Austrian Airlines, have signed an agreement to wet-lease 38 aircraft from airberlin, in which Etihad Airways holds a 29 percent stake.

Of these, 33 will be operated for by Eurowings Group and an additional five aircraft are to be flown by Austrian Airlines.

The agreement has a term of six years and will become effective from February.