Alitalia is ending its partnership with Air France-KLM.
In a statement, CEO Silvano Cassano of Italy’s national carrier said the tie-up, due to end in 2017, was no longer “strategically or commercially beneficial” to the firm’s ambitious turnaround plan.
The move will affect various agreements on sales, markets and cargo services.
It is of little surprise to industry insiders as it comes after Alitalia recent deal with Etihad Airlines.
Etihad Airways adopted a 49% stake in the ailing airline in January in a deal worth €560 million, to become the company’s largest stakeholder. Crucially, it also gives the Gulf carrier a strategic foothold in the European market.
- 1French fuel strike: frustration at the pumps and an investment warning
- 2Moody’s downgrades Deutsche Bank’s credit rating
- 3IMF urges France to speed up reforms to create jobs and cut debt
- 4Google Paris HQ raided by French investigators over tax payments
- 5Brexit vote: one month away the recession warnings keep coming
- 1Leaders sign off on pipeline to bring gas from Azerbaijan to Europe
- 2Australian government forced to think again on backpacker tax
- 3Eurostar sales fall after Paris and Brussels terror attacks
- 4Security concerns hit tourism industry, Thomas Cook shares slump
- 5How to receive EU funding for your SME’s dual-use project
Wires > Business
- 02:13 CET Euro zone agrees debt deal with Greece, IMF – France’s Sapin
- 02:04 CET HP Enterprise to merge IT services unit with Computer Sciences
- 01:24 CET China’s wary lenders force rust-belt country to take expensive…
- 01:23 CET Strong overseas demand boosts UK car production in April
- 01:13 CET Economic hit would outweigh post-Brexit budget savings for UK -…
- 01:11 CET Yokohama days – how hard truths won Mitsubishi Motors a lifeline
- 01:02 CET UK motor insurers make underwriting loss in 2015 – survey
- 00:00 CET Monsanto rejects Bayer bid, but open to more talks