BREAKING NEWS

BREAKING NEWS

Etihad moves to take over Alitalia

Now Reading:

Etihad moves to take over Alitalia

Text size Aa Aa

Bankrupt Italian flag carrier Alitalia may be about to be rescued by Eitihad Airways, the Gulf company that is trying to expand its operation in Europe in the teeth of rivals like Emirates and Cathay Pacific.

If the deal is confirmed rumours say Etihad will get 49 percent of Alitalia for some 600 million euros.

Etihad has been circling Alitalia for some time and has been studying the fine print of a partial takeover since the beginning of the year.

Some reports say a takeover could mean the loss of nearly 3,000 jobs.