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Alitalia wrapping up financing deal with banks

Troubled Italian carrier in 'final phase' with Etihad investment

03 February, 11:02
Alitalia wrapping up financing deal with banks (ANSA) - Rome, February 3 - Alitalia CEO Gabriele Del Torchio on Monday said the Italian airline was about to sign a financing deal with banks related to Etihad Airways of Abu Dhabi aiming to invest in the troubled carrier. "Within a few hours we will sign the contract for financing with the banks and we will equip Alitalia with additional financial resources. I'm satisfied," said Del Torchio. His comments followed media rumors that the airline would receive a line of credit less than the 200 million euros expected. On Sunday, Etihad said it was in serious negotiations over a possible investment in Alitalia.

It has seta a 30-day deadline to finalize a deal.

The airlines issued a joint statement saying their negotiations were in "the final phase" and they were trying to arrive at a common strategy in coming weeks. That came as Italian Premier Enrico Letta was on an official visit to the United Arab Emirates at the weekend.