17 Aug

Etihad and Alitalia seal equity deal

first_imgEtihad Airways and Alitalia have confirmed have agreed on the terms and conditions of Etihad acquiring equity stake in the airline.Etihad will acquire 49 per cent equity of Alitalia and the airlines will now sign transactional documents that will include agreed upon conditions as soon as possible.According to Bloomberg, Etihad will invest 560 million euros (AUD 81 157 952 million) in Alitalia and also create a company for Alitalia’s operating assets.In addition, it will also buy a majority in the company that runs Alitalita’s loyalty program.The investment is still pending regulatory approval.Alitalia had previously sought a bailout package from a new partner after Air France-KLM Group bowed out of an Italian government backed deal last year.Source = ETB News: Tom Nealelast_img

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