Etihad, partners raise $700m, Jet to get $110m

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% stake, will get 16% of this amount or about $110 million. Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles, Aliltalia and Jet Airways had raised $500 million following roadshows in Abu Dhabi, Dubai and London Stock Market Trading Tips

"After unprecedented increased demand from financial institutions in a range of markets, the airlines reopened the transaction and have raised an additional $200 million, taking the total to $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. 

Etihad president and CEO James Hogan said: "Together, we are creating compelling network and product offers for our customers, while cutting costs and sharing a wide range of syner gies... These additional funds will allow this group of airlines to accelerate further the realisation of this vision and these strategies. Individually, each of these partners is building an increasingly strong business. But together, that strength is multiplied. This transaction recognises and endorses that strength Himanshu Tiwari Astrologer Blog