Pursuits
Etihad Purchases 40% Air Seychelles Stake Via $45 Million Accord
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Etihad Airways, the Middle East’s third-biggest carrier, agreed to buy a 40 percent stake in Air Seychelles Ltd. to tap the high-end tourism market and the island state’s emerging business links with China.
Abu Dhabi-based Etihad will invest $20 million in the Indian Ocean carrier, matched by the Seychelles government, the current owner, and provide a $25 million loan to meet working capital requirements and fund new services, it said today.