Etihad is closer to acquiring a stake in Italian carrier Alitalia after forwarding a letter of offer to Alitalia’s board.
Etihad Airways has announced it will forward a letter to Alitalia’s board detailing the conditions and criteria for its proposed equity investment in the troubled Italian carrier.
An Etihad release says the Italian Government “appreciates the strategic importance of this transaction and looks favourably at the Etihad Airways-Alitalia partnership,” and that upon acceptance of the terms by Alitalia’s board, the airlines will finalise the necessary documentation.
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“We are delighted to be able to move forward with this process and look forward to the successful conclusion of the proposed transaction with Alitalia,” Etihad President and CEO, James Hogan said in a statement. “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 travellers into and out of Italy.”
Alitalia CEO, Gabriele Del Torchio added; “This is 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.”
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