Creditors consider action against Air Seychelles in Etihad debt saga | Reuters
Holders of around $70 million in troubled bonds issued on behalf of Air Seychelles are considering options including enforcement against the African carrier, according to sources and documents.
The action under consideration is the latest twist in broader creditor efforts to recover $1.2 billion in funds owed by Abu Dhabi’s Etihad Airways and related airlines including Air Seychelles.
Etihad is state-owned Air Seychelles’ second-biggest shareholder.
Air Seychelles, which has been hit particularly hard by the coronavirus crisis, was part of a consortium comprising Etihad and related airlines that borrowed the $1.2 billion through a special purpose vehicle in 2015 and 2016.
No comments:
Post a Comment