Etihad-Alitalia saga could come to an end this week

Aug 04, 2014

The long-standing saga of the UAE’s Etihad takeover of Italy’s Alitalia could come to an end this week according to reports from Rome.

The Italian Government is preparing to sell a 49% stake in the 68-year old airline following talks which have lasted for more than seven months.

"A date has been fixed for signing the deal: August 8," said Maurizio Lupi, Italian Transport Minister, at a press briefing. He noted that some final details had to be resolved.

Gabriele Del Torchio, Chief Executive of Alitalia, said that the Italian airline's most recent proposal to Etihad on issues including how to deal with its €800m debt had been well received by the prospective buyer.

"We have received a response from Etihad. It is positive, but some things still need to be cleared up," Del Torchio said.

Owning a chunk of Alitalia would give Etihad access to Europe's fourth-largest travel market and expand its reach in Europe, where it already has stakes in Air Berlin and Aer Lingus.

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