Alitalia, Etihad to strengthen partnership ties

16 May 2014

(MENAFN) An Italian government source said that the Italian airline Alitalia is expected to post profit by 2017 after losses reported last year, according to Gulf Daily News.

The airlines’ profit, which is expected to keep growing to 2017, will result from a turnaround plan presented by Etihad Airways as part of tie-up talks between the two carriers.

Alitalia was kept afloat by the government’s USD686 million-worth rescue package in 2013, and is still seeking cash-rich partner to rescue its flight network.

Etihad’s plan expects Alitalia to hit USD147.96 million net profit by 2017, revenues of USD5.014 billion and earnings before interest, tax, depreciation and amortisation of USD720.63 million.

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