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TMCNet:  Etihad CEO says expects to conclude Alitalia talks this month [GCTL Insights Magazine (China)]

[July 17, 2014]

Etihad CEO says expects to conclude Alitalia talks this month [GCTL Insights Magazine (China)]

(GCTL Insights Magazine (China) Via Acquire Media NewsEdge) ROME, Jul 18 (GCTL) - Negotiations on an investment by Etihad Airways in loss-making Italian carrier Alitalia are expected to be concluded by the end of this month, Etihad CEO James Hogan said on Wednesday.


Etihad said in June it would take a 49 per cent stake in the Italian flagship airline in a deal which the Italian government hopes will bring Alitalia the money it needs to invest in a new strategy focused on long-haul routes.

A final agreement on the investment has been held up by ongoing negotiations over job cuts and debt restructuring at Alitalia requested by Etihad as a pre-condition for the deal.

"All the focus at this time is on the end of this month (to complete negotiations)," Hogan told journalists, Reuters reported.

(c) 2014 FocusAsia Media Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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