10 Aug 2014
(MENAFN) UAE’s Etihad Airlines is planning to buy almost half of Alitalia, an Italian airline, as well as investing USD751 million in an effort to reconstruct the struggling company, The Peninsula Qatar reported.
The deal, which will pay 49 percent of Alitalia’s stake, a share in its frequent flier program, will save the company which was close to bankruptcy several times, which registered a net loss of USD 762.97 million last year.
After long negotiations with the unions, Alitalia will have to cut 1,635 jobs from its staff of 14,000 employees.
“The way Alitalia is going to look in the future is very different. We’re putting in a three-year plan to move the airline back to profitability by 2017,”Etihad’s CEO said.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more