FINANCIAL NEWS

Alitalia, Etihad to make agreement this week

06 May 2014

(MENAFN) Italian airline Alitalia and the UAE carrier Etihad are expected to set the deal of Etihad purchase of 49 percent stake in Alitalia this week, according to Arab News.

The deal will open the doors for Etihad to expand in Europe and win trans-Atlantic routes, while Alitalia will have no worries on bankruptcy after the sale.

Alitalia has been through years of crises and was at one point hoping for a rescue from Air France-KLM.

Alitalia”s chief executive Gabriele Del Torchio was due to present an outline for an agreement at a meeting with Etihad boss James Hogan in Abu Dhabi.

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