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.
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