Etihad Airways will acquire a 40 percent stake in Air Seychelles, its second airline acquisition in the last five weeks as the rapidly growing Abu Dhabi-based carrier embarks on an ambitious expansion plan.
Etihad and the Seychelles government will each invest $20 million in the state-owned airline, Etihad said on Wednesday. The Abu Dhabi airline will also provide a $25 million loan to help Air Seychelles meet working capital requirements and support network development.
"The investment in the national carrier of Seychelles is a natural next step towards growing our operations in the increasingly important leisure markets of the Indian Ocean and Africa," Etihad's Chief Executive Officer James Hogan said in the statement.
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