Etihad Airways sells first airline stake amid review

Abu Dhabi - It is their first divestment since launching a company-wide strategic review last year.

Etihad Airways has sold its minority stake in European regional carrier Darwin Airline, the first divestment since launching a strategic review last year.
Kevin Knight, Etihad Aviation Group's Chief Strategy and Planning Officer, said: "The decision to sell this minority stake in Darwin is a result of the on-going strategic review of our investments and a decision to concentrate on our other partnerships. We wish everyone at Darwin well in the future."
Etihad, which held a 33.33 per cent stake in Darwin Airline, and other investors have sold their shares to a new Swiss subsidiary of Slovenia's Adria Airways, according to a Darwin Airline statement on Thursday.
An Adria Airways spokeswoman told Reuters it had bought 99.1 per cent of Darwin Airline and would purchase the remaining shares "shortly".
Darwin Airline was one of eight carriers Etihad bought since 2011 and the second one sold after British Airways-owner International Airlines Group (IAG) took over Aer Lingus in 2015.
Darwin Airline will be rebranded as Adria Airways Switzerland. It has operated as Etihad Regional since 2014 when Etihad Airways bought its stake.

• Abu Dhabi