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Etihad Airways to Acquire Ownership of Air Seychelles 03 May 2021 Etihad Airways, which acquired a 40 percent stake in Air Seychelles in 2012 as part of a strategic partnership agreement, had reached a deal to take full ownership of Seychelles' national airline. The remaining 60 percent belonged to the government of Seychelles.  The Secretary of State in the Ministry of Finance, Patrick Payet, on Thursday told reporters that Seychelles received a 79 percent discount on the total liability that Air Seychelles owes Etihad. Air Seychelles had owed $72.3 million to Etihad; with the 79 perc...

Seychelles pays $1 to acquire Etihad’s stake in its flag carrier 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP Etihad accepted a 79 per cent haircut on $72.3m of debt owed by Air Seychelles Ltd May 2, 2021 Seychelles said it repurchased Etihad Airways’ 40 per cent stake in its flag carrier for $1, ousted its board and began restructuring the airline’s debt. Etihad accepted a 79 per cent haircut on $72.3m of debt owed by Air Seychelles Ltd., Patrick Payet, secretary of state at the nation’s finance m...

The UAE carrier will no longer be a shareholder in the Seychelles Government-owned airline

SHARE Etihad Airways said it sold its 40 per cent stake in Air Seychelles to the government of the Indian Ocean island, as the Abu Dhabi airline moves away from a strategy of expansion through investments in other airlines. Etihad's management contract has also ended, but chief executive of Air Seychelles Remco Althuis and chief financial officer Michael Berlouis will remain on until June 30 to assist with the carrier's transition, Etihad said in a statement. "Etihad Aviation Group has sold its 40 per cent holding in Air Seychelles to the Government of Seychelles and will no longer be a share...

COVID-19 downturn salary assistance in Seychelles to continue until February, official says To benefit from the reviewed scheme business establishments should have received the new license as per public health requirements. ( Seychelles Nation)  (Seychelles News Agency) - Businesses that were receiving salary assistance for their employees under the Financial Assistance for Job Retention (FA4JR) scheme will continue to benefit from the programme until February 2021, said a top finance official. In a meeting on Monday with the private sector, Secretary of State for Finance Patrick Payet said...