Alitalia's chief executive Gabriele Del Torchio is ready to leave the airline after striking a rescue deal with Etihad Airways, he told daily Corriere della Sera in an interview published yesterday (August 9).
Del Torchio, pre
Abu Dhabi-based Etihad Airways will buy almost half of Alitalia and pour 560 million euros ($751 million) into the loss-making Italian flag carrier in a turnaround effort that will involve heavy job losses, under a long-delayed deal signed on Fr
Loss-making Italian airline Alitalia will seal its tie-up with Gulf carrier Etihad on Friday, the government said, a deal that comes as the country's flagship airline was on the brink of bankruptcy and that protects more than 10,000 jobs.
Abu Dhabi's Etihad and Italy's post office operator Poste Italiane are preparing a partnership after the Gulf airline makes a planned investment in Italy's troubled flag-carrier Alitalia, a person close to the matter said.
Italian airline Alitalia is due to clinch a tie-up deal with Abu Dhabi's Etihad on August 8, Italy's transport minister said, in a deal Rome hopes will turn the loss-making flag carrier into a money spinner.
Italy's loss-making flag carrier Alitalia is working on a final proposal to present to Etihad on Thursday in a push to lock in an investment by the Abu Dhabi-based airline, a person close to Alitalia shareholders said on Wednesday.
Alitalia shareholders have approved a share issue of up to 250 million euros ($336 million) to keep the Italian flag carrier flying as it seeks to finalise a life-saving tie-up with Etihad Airways.
Abu Dhabi's state-owned Etih
Poste Italiane will only invest more money in Alitalia if it avoids taking on the airline's past liabilities, three sources close to the matter said on Monday, a condition likely to hamper a rescue deal with
The chief executive of Etihad Airways said a deal to acquire nearly half of Alitalia could be wrapped up this month but warned that cuts would be needed to make the loss-making carrier profitable, prompting opposition from Italy's largest un
Abu Dhabi's state-owned Etihad Airways said on Wednesday it had agreed principal terms and conditions to buy a 49 percent stake in Alitalia in a last-ditch attempt to save the loss-making Italian carrier.