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UAE- Etihad okay on Foca review for Darwin
(MENAFN- Khaleej Times) Etihad Airways was advised in June by the Foca that changes to the agreement would be needed to secure regulatory approval.
Etihad Airways is comfortable with the process of review by Switzerland's Federal Office of Civil Aviation, or Foca, concerning the agreement to acquire 33.3 per cent of Darwin Airline.
Etihad Airways was advised in June by the Foca that changes to the agreement would be needed to secure regulatory approval. Since then it has been working with the Foca and is amending the agreement to ensure it complies with regulations.
Etihad Airways president and chief executive officer James Hogan: "We are comfortable with the Foca's review and understand and support the need for there to be absolute clarity that Etihad Airways does not, cannot and will not exercise control over Darwin Airline."
"While our initial agreement has required amendment, we are seeking, as any minority investor would, protection for our investment.This is about protection, not control."
Etihad Airways is comfortable with the process of review by Switzerland's Federal Office of Civil Aviation, or Foca, concerning the agreement to acquire 33.3 per cent of Darwin Airline.
Etihad Airways was advised in June by the Foca that changes to the agreement would be needed to secure regulatory approval. Since then it has been working with the Foca and is amending the agreement to ensure it complies with regulations.
Etihad Airways president and chief executive officer James Hogan: "We are comfortable with the Foca's review and understand and support the need for there to be absolute clarity that Etihad Airways does not, cannot and will not exercise control over Darwin Airline."
"While our initial agreement has required amendment, we are seeking, as any minority investor would, protection for our investment.This is about protection, not control."
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