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Etihad Airways said on Wednesday that its equity partnership group has raised another $500 million in financing, bringing the total funding it has sourced since September 2015 to $1.2 billion.
The group, consisting of Etihad Airways, Etihad Airport Services, Air Berlin, Air Serbia, Air Seychelles and Alitalia, held a series of fundraising roadshows in Europe and Asia earlier this month, Etihad said in a statement.
The $500 million will be used to buy new aircraft and refinance debt held by some of the equity partners, it said without providing further details.
"With this second successful transaction, the international financial markets have continued to show their belief in the Etihad Airways Partners story," the statement quoted James Hogan, president and CEO of Etihad Aviation Group, as saying.
He said the equity partner strategy aimed to "improve revenues, reduce costs and uncover exciting new business synergies".
The group raised $700 million in funding in September last year. In April the group reported a consolidated net profit of $103 million for 2015, on the back of revenue of $9.02 billion.
(Writing by Shane McGinley)
© Zawya 2016
