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Dec 13, 2017 17:28 EEST
December 13 (SeeNews) - Swiss-based Darwin Airline, acquired by Slovenia's Adria Airways in July, has declared bankruptcy, Swiss media reported on Wednesday.
The company declared bankruptcy just weeks after seeking bankruptcy protection from the Federal Office of Civil Aviation, swissinfo.ch reported.
Darwin Airline is based in Lugano, in southern Switzerland.
Darwin’s shareholders, including its strategic partner Etihad, agreed to sell their shares to Adria's Swiss subsidiary on July 20.
"Darwin is an excellent airline with experienced management and staff", Arno Schuster, CEO of Adria Airways, said at the time.
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 centres 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, Etihad Regional, which stopped being used when it was acquired by Adria.
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