Adria Airways, through its’ Swiss subsidiary, on July 20 has completed the take-over of 99,1% of shares in Swiss airline Darwin Airline SA and will acquire the rest shortly.
Darwin Airline SA is a Swiss airline which operates under the name “Etihad Regional” in various European countries. The existing shareholders, including Darwin’s strategic partner Etihad, have agreed to sell and transfer their shares on 20 July to Swiss subsidiary of Adria Airways.
Under the terms of agreement, Darwin will continue to operate under its own name and with its own air operator’s certificate (AOC) from its Lugano base in Southern Switzerland and from its base in Geneva. Adria Airways will take over some of Darwin’s administrative and operational tasks and will market the Swiss airline’s services.
Darwin Airline was founded in 2003 with the prime aim of connecting the southern part of Switzerland, the Ticino, and its economy with the country’s main Zurich and Geneva financial centers and airline hubs. Following the acquisition of its shares by Etihad Airways, Darwin joined the Etihad Group of airlines in 2014 and adopted the Etihad Regional marketing name, which will now no longer be used.
The parties involved have agreed to maintain confidentiality on the terms of the sale transaction. Darwin made a small profit in 2016 and has a positive outlook for the current year.
— Adria Airways