ABU DHABI, Feb 2 (AFP) : Abu Dhabi-based Etihad Airways said Sunday it has entered the final stage of an assessment whether to purchase a stake in Italy's debt-laden airline Alitalia.
The two carriers "have entered the final phase of a due diligence process about a possible investment by Etihad Airways in Alitalia," confirmed James Hogan, chief executive of Etihad Airways, and Gabriele Del Torchio, his Alitalia counterpart, according to a statement by Etihad.
The two companies and their advisors will determine during the next 30 days "how a common strategy can be developed which meets the objectives of both parties," said the statement.
"Any issues that may prevent the establishment of an appropriate business plan will have to be resolved to ensure the plan can be implemented to move Alitalia to sustainable profitability," it added.
Reports have suggested that Etihad is preparing a big investment in Alitalia, which is in debt to the tune of 1.2 billion euros ($1.6 billion).
Etihad in final assessment for Alitalia buy
FE Team | Published: February 03, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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