Etihad buys 49 percent of Alitalia as a rescuing deal

28 Jun 2014

(MENAFN) Etihad Airways has tied up a rescuing deal with Alitalia, buying a 49-percent stake of the Italian carrier, The Peninsula Qatar reported.

The Italy-based cargo is suffering a debt issue of about USD1.36 billion, while none of the two parties provided any details of the value of the intended deal.

The deal means that Etihad Airways is in effect rescuing Alitalia, playing a role which Air France once considered but then dropped because of the scale of the problems.

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