Etihad and partners raise funds, Jet Airways to get over $100 million

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NEW DELHI: Etihad Airways and its equity partner airlines have increased the funds raised from their unique platform financing transaction from $ 500 million to $ 700 million. Jet Airways, in which Etihad has a 24 per cent stake, will get 16 per cent of this amount or about $ 110 million.

Etihad Airways, Etihad Airport Services, Air Berlin, Air Serbia, Air Seychelles, Aliltalia and Jet Airways had raised $ 500 million following 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 US $ 200 million, bringing the total to US $ 700 million,” Etihad said in a statement.

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.

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