Etihad Moves Forward On Alitalia Investment

Source: Etihad Airways

Etihad Airways confirmed on 1 June that it will forward a letter detailing the conditions precedent and the criteria for a proposed equity investment that have been negotiated with Italian flagship carrier Alitalia and its stakeholders over the past months.

A joint statement said that the Italian Government appreciates the strategic importance of this transaction and looks favorably at the Etihad Airways – Alitalia partnership.

“Upon confirmation by the Board of Alitalia and its stakeholders of their acceptance of these terms, the airlines will proceed to final documentation in order to complete the proposed transaction, in line with EU and other regulatory requirements,” the statement read.

The president and chief executive officer of Etihad Airways, James Hogan, said in the statement that Etihad was looking forward to the successful conclusion of the proposed transaction with Alitalia.

“An equity investment in Alitalia will be beneficial not only for the both airlines, but, more importantly, it will give more choice and broader travel opportunities to business and leisure travelers into and out of Italy,” he was quoted as saying by the statement.

According to the statement, the chief executive officer of Alitalia, Gabriele Del Torchio, referred to an “excellent outcome for Alitalia.

“This investment will provide financial stability and confirms Alitalia’s key strategic role as an infrastructure player in the travel and tourism industry in Italy for long-term growth,” Mr. Del Torchio was quoted as saying by the statement.