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The Seychelles government is set to become the sole owner of Air Seychelles
The island nation’s national carrier and Etihad Airways are in talks to dissolve their partnership, a final remnant of the Abu Dhabi airline’s equity alliance strategy that led to billions in losses.
Air Seychelles chief executive officer Remco Althuis stated at an online event hosted by industry group CAPA that talks were being finalised. Etihad Airways declined to comment.
A divestment of Air Seychelles would essentially put an end to Etihad’s equity alliance strategy after the airline reduced its stake in Air Serbia from 49% to 18% in December. The Gulf carrier has been gradually unwinding the global expansion plan through which it bought a 40% stake in Air Seychelles in 2012.
The series of airline investments led to $7bn in losses over a five-year period ending in 2020. Some of Etihad’s other airline investments included Airways, Virgin Australia, Air Berlin and Alitalia.
For more information visit www.airseychelles.com
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