Etihad amends Darwin deal after objections
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Etihad Airways has amended its deal to take a 33.3% stake in Darwin Airline after objections from Switzerland’s Federal Office of Civil Aviation (FOCA).
The Abu Dhabi-based airline has been working with FOCA since June to comply with Swiss regulations, which are under review in regard to the control of Darwin Airline, which operates as Etihad Regional.
Etihad’s president and CEO James Hogan said the carrier would not try to exercise control of Darwin Airlines, of which Swiss investors will retain the other 66.7% stake.
“We are comfortable with FOCA’s review and understand and support the need for there to be absolute clarity that Etihad Airways does not, cannot and will not exercise control over Darwin Airline. While our initial agreement has required amendment, we are seeking, as any minority investor would, protection for our investment. This is about protection, not control,” said Hogan.
“Etihad Regional was, and will continue to be, majority owned by Swiss shareholders and operated by Swiss management.”
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