Etihad and Alitalia have agreed the conditions of the latter’s equity sale, meaning Etihad is now set to acquire a 49 per cent stake in the Italian airline. Alitalia and Etihad announced their agreement today, adding that they wish to finalise the deal as soon as possible. The transaction still needs approval from regulators. It is thought that Etihad will invest up to €1.25bn in Alitalia over the next four years. However, it is reportedly also planning to cut around 2,000 jobs in order to trim the airline's debt. The sale is widely thought to be Alitalia's last hope as the airline is expected to run out of money this August.