Seychelles reaches deal with Etihad to take full ownership of Air Seychelles

Seychelles on Thursday announced it had reached a deal to take full ownership of its national airline, Air Seychelles, following talks with Etihad Airways in which the UAE-based airline agreed to relinquish the 40-percent stake it holds at a steep discount, officials said. The Secretary of State in the Ministry of Finance, Patrick Payet, 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… (www.seychellesnewsagency.com) More...