Etihad To Acquire 49-Percent Share of Alitalia
The “transaction implementation agreement,” which the airlines valued a €1.76 billion ($2.35 billion), is intended to restore the airline to profitability.
From left to right, Etihad CFO James Rigney, Alitalia chairman Roberto Colaninno, Etihad CEO James Hogan and Alitalia CEO Gabriele Del Torchio celebrate agreement. (Photo: Etihad Airways)
From left to right, Etihad CFO James Rigney, Alitalia chairman Roberto Colaninno, Etihad CEO James Hogan and Alitalia CEO Gabriele Del Torchio celebrate agreement. (Photo: Etihad Airways)

Abu Dhabi carrier Etihad Airways and Alitalia signed an investment agreement on Friday that will see Etihad acquire a 49-percent stake in the troubled Italian flagship airline. The overall “transaction implementation agreement,” which the airlines valued at €1.76 billion ($2.35 billion), will recapitalize Alitalia with the aim of restoring it to profitability by 2017.