Etihad will bring Alitalia back to profitability by 2017
02 / 03 / 2015
“Cargo is an important part of the mix, we are a major cargo operator in our own right – it’s a billion dollar business within Etihad Airways.
“To be able to build the Alitalia cargo business is a key part of our strategy.”
Etihad will become a minority shareholder – subject to regulatory approval – with core Alitalia shareholders committing an additional €300m, says a company statement.
“This is an excellent outcome for Alitalia. We have had to take some tough decisions in a very robust negotiation process but we have achieved the consensus we require to create the right shape and size for Alitalia in the future," says Gabriele Del Torchio, chief executive of Alitalia.
The number of redundancies has sparked controversy.