Darwin Airline (Lugano) says it has completed the sale of a 33.3% stake in its shareholding to Etihad Airways (EY, Abu Dhabi International) by way of a share capital increase. The announcement comes roughly two months after the Swiss Federal Office of Civil Aviation (FOCA) approved the deal, albeit following almost a year of intense scrutiny of the extent to which the Emiratis would have control in the airline's running.
“We are pleased to confirm that Etihad Airways is now the shareholder of 33.3% of Darwin Airline," James Hogan, Etihad Airways’ President & Chief Executive Officer, said. "This investment is important for aviation in Switzerland as it promotes competition and provides additional choice for tourist and business travellers."
Reports state Etihad amended several aspects of its agreement with the Swiss carrier including scrapping a monitoring agreement over the airline’s quality and safety, while relinquishing a role in the appointment of Darwin top management.
