Etihad set to buy 49% Stake in Alitalia

Etihad A330Etihad Airways and Alitalia have stated they have agreed the principal terms and conditions under which Etihad Airways will acquire a 49% equity stake in the Italian national carrier.

Ethiad says its agreement with Alitalia was: “The latest step in a process which could lead to the finalisation of a proposed transaction.”  It added further steps will include the completion of the transaction documents, the finalisation of the conditions precedent, an application for regulatory approval and final shareholder and board approvals.  The two airlines say these next steps will be worked through over the coming months.