UAE airline may just have the ticket to keep Italy's Alitalia flying high
Italy's Alitalia airline is in talks with Abu Dhabi's Etihad Airways on possible investment opportunities, according to Reuters Sunday.
Alitalia's Chief Executive Gabriele Del Torchio told reporters that other options are under discussion as well, "but it’s too early to comment. There are various options (on the table),” he told journalists after a board meeting.
Etihad may invest as much as $410 million (300 million euros) to ensure that the struggling Italian airline remains operational, according to Reuter's political source earlier this week.
The Italian government has been keeping a watchful eye on the dealings, with the government issuing an official statement saying that "Alitalia is a strategic asset and ensuring that Italian citizens and the economy are served with domestic, European and intercontinental connections that are efficient and adequate for the growth of the country remain [the government's] fundamental objective."
The government hopes the struggling airline is "integrated into a 'global network'" through this and related investment deals, but continues to emphasize the necessity to "safeguard country interests."
- Gazans reach beyond Israeli blockade through start-up
- France is playing a risky dating game in the Gulf: experts
- Egyptian stocks plummet as Yemen confict deepens
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis
- Etihad flying high after becoming largest shareholder in Alitalia
- What's next after the Etihad-Alitalia deal?
- Survival of the fittest: Etihad reworking agreement on purchasing Darwin Airlines after Swiss objections
- Survival of the fanciest: Middle East airlines' relentless battle for business class luxury