Alitalia Rescue Cleared By The EU

The European Union has approved Abu Dhabi-based Etihad’s purchase of 49 per cent of Alitalia.

The European Union has approved Abu Dhabi-based Etihad’s purchase of 49 per cent of Alitalia.

To satisfy antitrust regulators Alitalia surrendered slots for its Rome-Belgrade service, which is competed on only by Air Serbia – in which Etihad is also a shareholder.

Etihad’s equity investment of €389m forms part of a €1.7bn rescue package for Alitalia, which lost €569m last year and has not been profitable since 2002.

A restructuring involving about 2,000 redundancies is hoped to return the airline to the black by 2017.

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