Etihad sets out criteria for Alitalia deal
Etihad Airways has moved closer to an investment in Alitalia.
Conditions and criteria that Alitalia’s board will have to approve before final talks between the two airlines can proceed are on their way to Italy.
In a joint statement, both airlines said the Italian Government "appreciates the strategic importance of this transaction and looks favourably at the Etihad Airways-Alitalia partnership".
Etihad has been busy snapping up stakes in airlines in Germany, Serbia, the Seychelles and Australia, where it has a stake of 20% in Virgin Australia.
Gabriele Del Torchio, chief executive of Alitalia, said: "This is an excellent outcome for Alitalia. This investment will provide financial stability and confirms Alitalia’s key strategic role as an infrastructure player in the travel and tourism industry in Italy for long-term growth."
Alitalia has sought a new major investor after key shareholders Air France-KLM Group backed out of a capital increase.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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