EC Approves Etihad-Alitalia Partnership
Airlines plan to complete deal by year-end
From left to right, Etihad CFO James Rigney, Alitalia chairman Roberto Colaninno, Etihad CEO James Hogan and Alitalia CEO Gabriele Del Torchio celebrate the agreement on August 8 that calls for Etihad Airways to take a 49-percent stake in Alitalia. (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 the agreement on August 8 that calls for Etihad Airways to take a 49-percent stake in Alitalia. (Photo: Etihad Airways)

The European Commission on Friday cleared the merger of Alitalia and Etihad Airways under EU Regulation 139/2004, allowing the airlines to proceed with the strategic partnership they announced in August. Valued at €1.76 billion ($2.35 billion), the deal will see Etihad take a 49-percent stake in Alitalia with a view to restoring the troubled flag carrier to profitability by 2017.