Etihad Airways posted a 48 percent leap in 2013 profit on Monday and predicted more growth this year, as the fast-expanding Abu Dhabi airline aims to develop its alliance network with a potential investment in Alitalia.
Eithad Airways is holding talks with Alitalia's banks in Rome this week about buying a stake in the troubled Italian carrier, the chief executive of the Abu-Dhabhi based airline said.
James Hogan told a media briefing at the S
Germany's largest airline Lufthansa has criticised plans by Etihad Airways to invest in ailing Italian carrier Alitalia and called on the European Commission to block the deal, saying it would amount to unfair competition.
Alitalia is about to finalise loan agreements with banks for up to 200 million euros ($270 million) pledged last year to help keep the Italian airline flying while it finds a potential new partner, its chief executive said.
Etihad Airways and Alitalia are in the final phase of a due diligence process that may result in an investment by the Abu Dhabi carrier in the troubled Italian airline, both companies said in a joint statement on Sunday.
Etihad will not be rushed into making a decision over an investment in struggling Italian airline Alitalia, the chief executive of the Abu Dhabi-based airline said on Monday.
"There are no plans to make any announcement at th
Alitalia's chairman is re-considering his decision not to stand for re-election after some of the airline's biggest shareholders asked him to stay while talks with potential investor Etihad Airways continue, sources close to the matter s
Abu Dhabi's Etihad Airways is in early-stage talks over a possible 300 million euro ($413 million) investment in Alitalia, a political source close to the matter said, which could help rescue the loss-making Italian airline.
Abu Dhabi's Etihad Airways is looking at the data room of Alitalia and is expected to take a decision on whether to invest in the troubled Italian carrier by Christmas, a source familiar with the matter said on Wednesday.
Codeshare partners Alitalia and Etihad Airways have announced an increase in direct Rome-Abu Dhabi services from four flights per week to five, in addition to an expansion of codeshare destinations for customers of each airline.