Etihad to invest USD1.99b to energize Alitalia

10 Feb 2015

(MENAFN) Etihad Airways and Alitalia signed a transaction implementation agreement, which includes an investment of USD1.99 billion, Oman Observer reported.

The investment is set to build a revived the recapitalized Italian national airline as a competitive lucrative business, the two cargos said.

The investment of USD634.18 million by Etihad is set to be supplied through a combination of equity injections, asset purchases, and funding measures to rebuild the airline’s balance sheet.

A complementary equity investment of USD339.7 million is also to be committed from current core Alitalia shareholders.

An addition of USD677.2 million in fiscal restructuring will be provided by financial institutions and existing bank shareholder.

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