Posted By- Neelam Mathews
Etihad is not letting up on its acquisition spree.
A release just came through that says Etihad Airways and Alitalia have entered the final phase of a due diligence process about a possible investment by Etihad Airways in Alitalia,
James Hogan, President and Chief Executive of Etihad Airways, and Gabriele Del Torchio, Chief Executive of Alitalia, confirmed this today.
During the next 30 days both companies and their advisors will determine how a common strategy can be developed which meets the objectives of both parties.
Any issues that may prevent the establishment of an appropriate business plan will have to be resolved to ensure the plan can be implemented to move Alitalia to sustainable profitability.