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'Alitalia to get 300 mn euros from Etihad Airways'

United Arab Emirates flag carrier would become top shareholder

18 December, 17:34
'Alitalia to get 300 mn euros from Etihad Airways' (ANSA) - Rome, December 18 - Troubled Italian airline Alitalia is about to get a capital increase worth 300 million euros from Etihad Airways, the flag carrier of the United Arab Emirates, Bloomberg reported Wednesday citing sources close to a deal that would make Etihad the majority shareholder of Alitalia. The two airlines are scheduled to meet Thursday. The capital increase was approved in October by Alitalia shareholders as part of a plan to pull the airline back from the brink of bankruptcy.

Alitalia had already been turned down by Air France-KLM. Last month Etihad announced it had bought a 33.3% stake in Swiss carrier Darwin Airlines, whose brand will become Etihad regional.

Etihad CEO James Hogan said at the time that the acquisition was a radical change which could be extended to other markets.

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