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FINANCIAL NEWS
Alitalia, Etihad tie-up results 2,200 job cuts
09 Jun 2014
(MENAFN) According to the head of Alitalia, the airlines estimates around 2,200 jobs to go under a planned tie-up with Etihad Airways, Gulf Daily News reported.
The Italy-based airlines and the Gulf carrier have been in talks since December, but no deal was reached so far, as Alitalia refuses to approve Etihad’s demand for job cuts and restructuring the Italian carrier’s debt.
Alitalia’s current controlling shareholder group CAI would hold a stake of 51-55 percent in the new Alitalia created after the deal, while Etihad would have 45-49 percent, Alitalia’s head said.
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