Abu Dhabi's Etihad in talks to divest Air Seychelles stake | Reuters
Etihad Airways is in talks to divest its 40% stake in Air Seychelles, the small Indian Ocean carrier’s Chief Executive Officer Remco Althius said on Wednesday.
The move would leave the Seychelles government as the sole shareholder of Air Seychelles as the Abu Dhabi carrier further unwinds its failed strategy of investing in other airlines.
“It’s been formalised as we speak. It’s happening right now,” said Althius, a former Etihad executive, during an online event by aviation consultancy CAPA.
Etihad, which declined to comment, bought the minority stake in 2012, investing $20 million in addition to providing a $25 million loan.
The Seychelles government plans to buy the stake at a nominal value, according to a December regulatory filing.
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