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Etihad’s equity in Air Serbia is the largest of any of its airline partners and part of a network that helped Etihad increase its profit by 48 percent in 2013.
The United Arab Emirates’ national carrier Etihad said Tuesday in a statement that its initial loan to Air Serbia of $40 million will now be converted to equity. Eithad had announced a $200 million plan to rebrand Air Serbia in August.
Etihad also owns stakes in Air Berlin, Air Seychelles, Ireland’s Aer Lingus and India’s Jet Airways. The airline is waiting for regulatory approval for a 33.3 percent shareholding in Darwin Airline, a regional carrier based in Switzerland.
Etihad, which was set up in 2003 and is based out of Abu Dhabi, is one of three major Gulf airlines.
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