Fitch: Shareholder Commitment Remains Key for Etihad’s Ratings

The ratings of Etihad Airways and the notes issued by EA Partners I B.V. and EA Partners II B.V., which are currently unchanged, are largely driven by shareholder commitment to Etihad Airways’ mandate to establish a commercially viable airline and an economic contributor through equity airline partnerships. As a result, the ratings may be affected by the planned reshuffle of Etihad Aviation Group’s top management if it leads to a material change in the group’s growth strategy resulting in diminished shareholder support for Etihad Airways itself and its equity partners, says Fitch Ratings. Etihad Aviation Group announced the retirement of