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Etihad Buys into Air Seychelles

29 January 2012

Etihad Airways is buying a 40% stake in Air Seychelles. The Abu Dhabi-based carrier is investing $20 million in the airline and giving the carrier a $25 million loan. Air Seychelles also is receiving a $20 million capital infusion from the Seychelles government. The deal includes a five-year management contract and a state official says the new shareholder will name a new CEO and CFO.