Etihad acquire 40 percent stake in Air Seychelles

[Twinotterguy]

Seychelles Government and Etihad Airways team up in new strategic partnership in Air Seychelles Ltd (http://www.incentivetravel.co.uk/airportairline/5278-seychelles-government-and-etihad-airways-team-up-in-new-strategic-partnership-in-air-seychelles-ltd)

I dont know if its a good or a bad news for the Seychelles , but our loved air seychelles would be still alive. UAE is heavily investing in the seychelles, the king has built a huge palace on the mountains and intensive search for oil is going on in the ocean.


http://www.pprune.org/african-aviation/473022-air-seychelles-discontinues-europe.html

[MrMachfivepointfive]

I don't know, but it looks like the old Swissair 'hunter' strategy all over again. That one did not pan out nicely...

[Pull_up]

Wondering if this got something to do with HRH Sheikh Khalifa love for that island.

[Stratosphere6000]

Did Swissair enjoy the financial backing that EY has?? Does anyone know how rich EY's shareholder is?? The sovereign wealth fund for Abu Dhabi alone (not UAE) is US$600bn+. In layman terms a sovereign wealth fund is sort of a state savings account (money for a rainy day).

Now take into account their investments and other forms of income and having the 6th biggest oil reserve etc plus the fact that their population is a mere 1.5mil and you have as CNN labelled it a few years ago, the richest city in the world.

[MrMachfivepointfive]

The sovereign wealth fund for Abu Dhabi alone (not UAE) is US$600bn+

We all know that. But they did not get all that wealth through a habit of tossing dosh into a waste bin of loss making ventures.

[Twinotterguy]

Wondering if this got something to do with HRH Sheikh Khalifa love for that island.

Of course he loves the island a lot, he built and still building more hospitals, apartments, supermarkets, powerplants etc...Almost everyday rich arab visitors are visiting the seychelles in private jets and the UAE government 777s 747s are frequent visitors to the seychelles. Rumor is that Etihad is going to invest an A330 and an A320 to the Seychelles later this year.

[Stratosphere6000]

Do you also know how much the 40% share cost them?? US$25mil...hardly tossing away chunks of cash when you have a savings account that big. More like a luxury shopping spree. The one that rich people go on. Hardly see any celebreties going broke overnight just cause they decide to spend some of their excess cash on something they dont need.

[Pull_up]

The 8th Emirates in the making?

[Twinotterguy]

Recently news came out that its Etihad who is going to appoint a new CEO later next month, the question everyone here asking how could Etihad appoint a CEO when its the govt that is the majority shareholder??? Many are already convinced that Etihad will be fully controlling the airline and the 40% share is only something written on a paper thing...

[Coconut Airways]

20, 40, 80% ownership what does all that mean??? In simple business terms it means how much share of a company you own and consequently how much control you have. If the relationship between shareholders is good as is the case between the share holders of both HM and EY, then who says the HM shareholder has to make all the decisions? Especially if the HM shareholder trusts and believes that EY has more experience/resources to choose a CEO etc..

If me and my mate have a venture and he owns more shares than me but he believes I have more experience choosing the CEO why would he not let me do it? Having majority share gives you the option to block transactions or decisions that you are not in favour with. It doesnt mean you have to make all the decisions.

Anyway its all much more complicated than that. I was just trying to simplify the whole thing for better understanding. I could be wrong though.

[Twinotterguy]

Hey thanks for the explanation coconut airways, I always thought those who hold majority usually make most of the rules.

By the way the minister for transport just came on tv and explained about this etihad-air seychelles saga.
By the end of the year Air Sey would have 2 A330 and 1 A320 and will fly to Abu dhabi and use it as its hub too. From Abu DHabi Air seychelles plane will serve some of Etihad routes including Munich, Pakistan, India and few others. Airline is also going to offer direct routes to China and penetrate more into African mainland. Lots of code share between these 2 on many routes. Etihad will train the pilots and other crew. Now its been confirmed that Etihad will be managing the airline for the next 5 years.

[neilb767]

Wonder if i could dust off my Shorts 360 and Twatter rating's and move down there .. ,, would love to go island hopping again...

[Twinotterguy]

neilb767 belive me man, flying here is great and fun...you will always be distracted by the beauty of the Island and the ocean. Plus its very challenging in the windy seasons. Unfortunately they dont hire foreigners anymore in the domestic section.

[Nearly Man]

They're full of beans aren't they? Wish they were like that in other areas :}

[Twinotterguy]

Etihad executive drafted as new Air Seychelles CEO | ArabianSupplyChain.com (http://www.arabiansupplychain.com/article-7067-etihad-executive-drafted-as-new-air-seychelles-ceo/)

[NG_Kaptain]

Would love a one or two year secondment.

[left_to_first_class]

Oh well another one of Hogan's bag carriers gets rewarded with a highly paid position....talk about job for the boys...nice place to be a CEO though!

[Macaroon]

“Air Seychelles will work closely with Etihad Airways to leverage synergies and create efficiencies that will reduce costs and maximise yields."

I call full house on buzzword bingo :cool:

:p:p:p:D:D:D:eek:

[Nearly Man]

Macaroon, imagineer that? :}

[Twinotterguy]

Air Seychelles will now fly twice weekly to Abu Dhabi on code share with Etihad.

Air Seychelles set to launch Abu Dhabi flights - Transport - ArabianBusiness.com (http://www.arabianbusiness.com/air-seychelles-set-launch-abu-dhabi-flights-443577.html)

and now it looks like the A320 and A330s for Air Seychelles will be from Etihad's own fleet.

[Twinotterguy]

Air Seychelles launches 2-year business plan - Emirates 24/7 (http://www.emirates247.com/business/corporate/air-seychelles-launches-2-year-business-plan-2012-03-17-1.448815)

So its 2 A330s for Air Seychelles and finally Etihad will reach into Mauritius themselves by using Air Seychelles. An Etihad A320 will do Abu Dhabi-Mahe-Mauritius in mid of this year, and more routes will be added soon. Sadly more people are going to lose their jobs said to be around 250+ in the coming 6 weeks and many will be transferred to Etihad main base.

[OMDB30R]

So why don't EY just operate B777/A330 into Mauritius direct, like EK does

[camel_hump]

Cause Mauritius doesn't wanna give them the slots in and most probably Air Seychelles got loads of slots into Mauritius from their base Seychelles.