01 Jun 2014 20:00
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.
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