In an announcement, Etihad said the agreement with Alitalia “was the latest step in a process that could lead to the finalization of a proposed transaction.”
The two airlines have agreed the principal terms and conditions under which Etihad Airways will acquire a 49 percent equity stake in Alitalia.
According to Etihad, further steps will include:
• Completion of the transaction documents
• Finalization of the conditions precedent
• Application for regulatory approval and
• Final shareholder and board approvals.