ETIHAD AIRWAYS is moving closer to signing a strategic alliance with Alitalia of Italy.
The UAE flag carrier confirmed that it will forward a letter detailing the conditions and criteria for a proposed equity investment by Etihad that have been negotiated with Alitalia and its stakeholders in recent months.
Once the Alitalia board and its stakeholders indicate an acceptance of the Etihad terms, the airlines "will proceed to final documentation in order to complete the proposed transaction, in line with EU and other regulatory requirements," said the Middle East carrier in a statement on its website.
Etihad Airways president and chief executive 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.”
Gabriele Del Torchio, chief executive 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.”
