Etihad raises $700m
The fund-raising transactions of Etihad Airways and partner airlines haveincreased to US$700 million.
Etihad Airways and equity partner airlines raised the funds raised from their unique platform financing transaction to $700 million following a surge in demand from international financial institutions.
Etihad Airways, Etihad Airport Services, Airberlin, Air Serbia, Air Seychelles, Aliltalia and Jet Airways recently they had successfully raised $500 million through the transaction, which followed roadshows in Abu Dhabi, Dubai and London.
After unprecedented increased demand from financial institutions in a range of markets, the airlines re-opened the transaction and have raised an additional $200 million, bringing the total to $700 million.
The funds, which will be split across the seven businesses, will be used for a mixture of capital expenditure and investment in fleet, as well as for refinancing, depending on each airline’s individual needs.