Etihad Airways is in the process of selling its 40% stake in Air Seychelles for $1, and the airline will forgive over $60 million in debt in the process. Ahem, Etihad, OMAAT is looking for some new investors, please give me a call at your earliest convenience. ;)
Etihad purchased a 40% stake in Air Seychelles back in 2012, as part of its global investment strategy at the time. This was when Etihad was essentially trying to take over the aviation world and build a fourth major alliance, known as Etihad Airways Partners.
For quite a while there have been rumors of Etihad looking to sell its stake in money-losing Air Seychelles, and that’s now official. […]
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