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Etihad is reportedly planning to take a stake of between 40 and 49 per cent in the Italian carrier
Etihad’s chief executive James Hogan, who met Prime Minister Matteo Renzi on Thursday, also held closed-door talks in the transport ministry on Friday.
The reports said that Friday’s meeting was “fruitful” and could lead to a letter of intentions from Etihad on Monday, when Alitalia is holding a board meeting.
A source close to the negotiations said it was “optimistic” to think an offer could be imminent but said the Renzi-Hogan talks were “a good sign”.
Transport Minister Maurizio Lupi on Tuesday said an assessment of Alitalia’s accounts had been completed and hinted an offer from Etihad could be imminent.
The two companies have been in contact since December and in February they said they had entered a “final phase” in the process but Alitalia is laden with debts and negotiations have been hugely complicated.
Etihad is reportedly planning to take a stake of between 40 and 49 per cent in the Italian carrier — below the 49.9 per cent limit for non-European airlines.
Alitalia struck a deal with trade unions in February for cutting the equivalent of 1,900 jobs but some reports indicate Etihad may want more layoffs.
The UAE carrier is eyeing an investment in Alitalia as it uses a combination of equity alliances and organic growth to expand its global reach and compete with fast-growing regional rivals.
Alitalia, kept afloat by a government-engineered 500 million euro ($686 million) rescue package last year, needs to find a cash-rich partner quickly to revamp its flight network or else risk having to ground its planes.
Etihad already has minority stakes in Air Berlin, Virgin Australia, Aer Lingus, India’s Jet Airways and others.
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