Etihad Said to Near Accord to Be Biggest Alitalia Owner - Bloomberg

Etihad Said to Near Accord to Be Biggest Alitalia Owner - Bloomberg:



"Etihad Airways PJSC is close to an agreement to become Alitalia SpA’s biggest investor after studying the Italian carrier’s books for the past weeks, people familiar with the matter said.



The two sides may sign a letter of intent as early as this week, said the people, who asked not to be identified because the talks are private. Etihad, the Abu Dhabi flag carrier, is considering a cash contribution of at least 250 million euros ($343 million), two of the people said. The accord isn’t final and a deal may still fall apart, another person said.



Etihad, the smallest of the major three Middle East carriers, confirmed in December that it’s in talks with Alitalia, and the company said in February that it would decide within a month whether to invest in the unprofitable airline. Spokesmen for Etihad and Alitalia, which received a government-sponsored bailout last year, had no comment."



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