Summary Box: Etihad to invest in Air Seychelles

AP News
Posted: Jan 25, 2012 1:14 PM
Summary Box: Etihad to invest in Air Seychelles

ISLAND CONNECTION: Etihad Airways, the fast-growing Gulf airline, will spend $20 million to buy 40 percent of the national carrier in the island nation of Seychelles, off the eastern coast of Africa.

GROWING INTEREST: The deal with Air Seychelles is Etihad's second investment in an overseas carrier in just over a month. The Abu Dhabi-based airline agreed in December to become the largest shareholder in Germany's second largest carrier, Air Berlin.

GULF BREEZES: Etihad is owned by the government of Abu Dhabi, the oil-rich capital of the United Arab Emirates. Etihad, Emirates and another state-backed Gulf airline, Qatar Airways, are challenging established European and Asian carriers by routing lucrative long-haul flights through the Gulf region.