Etihad divests full stake in Air Seychelles

SourceThe National
SectorTourism
CountryUAE

Etihad Airways said it sold its 40 per cent stake in Air Seychelles to the government of the Indian Ocean island, as the Abu Dhabi airline moves away from a strategy of expansion through investments in other airlines.

Etihad’s management contract has also ended, but chief executive of Air Seychelles Remco Althuis and chief financial officer Michael Berlouis will remain on until June 30 to assist with the carrier’s transition, Etihad said in a statement.

“Etihad Aviation Group has sold its 40 per cent holding in Air Seychelles to the Government of Seychelles and will no longer be a shareholder,” an Etihad spokeswoman said,

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