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Etihad Airways sells first airline stake since launching review

Etihad Airways has sold its minority stake in European regional carrier Darwin Airline, the first divestment since launching a strategic review last year and just weeks after chief executive James Hogan left the Abu Dhabi carrier. Etihad, which held a 33.33% stake in Darwin Airline, and other investors have sold their shares to a new Swiss subsidiary of Slovenia's Adria Airways, according to a Darwin Airline statement Thursday. An Adria Airways spokeswoman said it had bought 99.1% of Darwin Airline and would purchase the remaining shares "shortly". Darwin Airline was one of eight carriers Etihad bought since 2011 and the second one sold after BA-owner International Airlines Group took over Aer Lingus in 2015. Darwin Airline will be rebranded as Adria Airways Switzerland. It has operated as Etihad Regional since 2014 when Etihad Airways bought its stake. The value of the transaction was not disclosed. The shares were sold to a new Swiss subsidiary of Adria Airways, the statement said.<br/>