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June 29, 2022
BUSINESS

Alitalia Okays Etihad Airways bid

The board of directors of Italian carrier Alitalia has given the go-ahead signal to the proposal presented by Abu Dhabi’s Etihad Airways for an equity partnership between the two national carriers, khaleejtimes.com informs. It has given the mandate to negotiate the contract to president and chief executive officer Gabriele Del Torchio, paving the way for Etihad Airways to proceed with its share buy-out plan. Etihad Airways last month had submitted its plan to buy out 49 per cent of the Italian flag carrier, which may land in a financial crisis in August if a massive capital injection is not done. The issues, which have to be resolved between the two airlines, include Alitalia’s heavy debts and a need of cutting 2,200 jobs out of a total of 12,800 as part of the deal.

 

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