Etihad Airways today confirmed that it will forward a letter detailing the conditions precedent and the criteria for a proposed equity investment by Etihad Airways that have been negotiated with Alitalia and its stakeholders over the past months.
“The Italian government appreciates the strategic importance of this transaction and looks favourably at the Etihad Airways – Alitalia partnership,” said Etihad Airways in a press release.
Upon confirmation by the Board of Alitalia and its stakeholders of their acceptance of these terms, the airlines will proceed to final documentation in order to complete the proposed transaction, in line with EU and other regulatory requirements.
President and Chief Executive Officer of Etihad Airways, James Hogan, said, “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.
“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.” Gabriele Del Torchio, Chief Executive Officer of Alitalia, said, “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.” Roberto Colaninno, President of Alitalia, said, “We are delighted to move forward with Etihad Airways providing Alitalia with an ideal strategic partner enhancing the Company’s long term growth perspectives.”
Source : WAM News Agency for United Arab Emirates