Etihad Airways and partners boost funds to US$ 700 m
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Etihad Airways and its equity partner airlines recently have increased funds raised from their platform financing transaction to US$ 700 million.
This was following a surge in demand from international financial institutions. Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles, Aliltalia and Jet Airways announced that they had successfully raised US$ 500 m through transactions, which followed by roadshows in Abu Dhabi, Dubai and London.
The airlines re-opened transaction and have raised an additional US$ 200 m, bringing total to US$ 700 m.
The funds, which will be split across seven businesses, will be used for a mixture of capital expenditure and investment in fleet, as well as for refinancing, depending on each airline’s individual needs.
Allocation of funds raised will be nearly 20% each to Etihad Airways, Etihad Airport Services, airberlin and Alitalia; 16% to Jet Airways; and remainder to Air Serbia and Air Seychelles.
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