KATHMANDU, Sept 24: Etihad Airways, its airport services business and five of its equity partners have completed an innovative new platform financing transaction, raising $500 million on the international markets.
According to a statement, Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles, Alitalia and Jet Airways have together taken a new step forward in their strategic business development through this unique fund-raising initiative.
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At a series of roadshow meetings, held in Abu Dhabi, Dubai and London, the shared vision and strategies of the airlines were laid out to financial institutions. These highlighted the growing network coordination and revenue development initiatives, coupled with joint procurement and business synergy projects, across the airlines.
James Hogan, President and Chief Executive Officer of Etihad Airways in the statement said that the success of this transaction is a major endorsement of the shared vision and strategies of these businesses by the global financial community.
"A key element of our equity partner strategy is creating a total which is greater than the sum of its parts, a grouping which can work together to improve revenues, reduce costs and uncover exciting new business synergies.
"We have already been able to identify significant opportunities together, whether that be in shared IT platforms, joint fleet procurement or shared training costs. Commercial fund-raising is no different. "Our proposed transaction is simply the next logical step in our growing partnership and underpins its strategic importance," he said in the statement.
