UAE national airline Etihad Airways has welcomed the process of review by Switzerland’s Federal Office of Civil Aviation (FOCA) concerning the agreement to acquire 33.3 per cent of Swiss carrier Darwin Airline.

The Etihad move comes after Swiss authorities warned that the airline's plan to buy a third of Darwin does not meet legal requirements for approval, as foreign stakes in European airlines come under increasing scrutiny.

Etihad was advised in June by FOCA that changes to the agreement would be needed to secure regulatory approval. Since then the Abu Dhabi carrier had been working with the authorities and is amending the agreement to ensure it complies with regulations, said its top official.

President and CEO James Hogan, said: “We are comfortable with FOCA’s review and understand and support the need for there to be absolute clarity that Etihad does not, cannot and will not exercise control over Darwin Airline."

"While our initial agreement has required amendment, we are seeking, as any minority investor would, protection for our investment. This is about protection, not control," he added.

He reiterated that Etihad Regional was, and would continue to be, majority owned by Swiss shareholders and operated by Swiss management.

"A 66.7 per cent investment in the airline will be retained by Swiss investors and no Swiss interests will be compromised by Etihad's investment," he stated.

"We have a high regard for the management of the business and its capability to build a stronger regional airline that increases competition and choice for air travellers, especially in Switzerland," added Hogan.-TradeArabia News Service