Etihad Airways is urgently examining ways to avert a technical default of some $1.2bn in bonds indirectly linked to the Gulf airline, sources close to the situation told Reuters.
An Amsterdam-based special purpose vehicle called SPV Equity Alliance Partners (EAP) was set up in 2015 and issued two bonds for Etihad and other airlines it partially owned at the time, including Alitalia and Air Berlin, which are both now insolvent.
The bonds are quoted at a discount of more than 25 cents on the dollar after Alitalia entered special administration and Air Berlin filed for ban…
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