Etihad To Turn Around Alitalia’s Fortunes

Etihad has reportedly submitted a five-year investment plan to return the loss-making Alitalia to profitability. Etihad has been developing a possible investment proposal for Alitalia since the start of 2014, but the prospect of widespread job cuts and the airline’s debt (rumoured to be at least €800m/$1.1bn) has hindered proceedings. Etihad Airway’s ceo has so far declined to comment, but a source from within the Italian government has told the media that Etihad’s proposal could see Alitalia reach a net profit of €108m ($158m) by 2017, with revenues of €3.66bn ($5.01bn) and pre-tax earnings of €526m ($720m).

TAGS: Europe
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