Alitalia Agree 49 Percent of Shares Purchased Etihad Airways

A total of 49 per cent stake in the airline from Italy which nearly collapsed, Alitalia finally agreed to buy state-owned airline of Abu Dhabi, Etihad Airways.
Documents released Wednesday (25/6) reveals, Etihad and Alitalia is said that they will hold negotiations two weeks ago and will complete the final phase of the transaction documents. However, financial details and the value of the investment was not contained therein.
Italian Transport Minister, Maurizio Lupi said, Etihad has set up about 1.25 billion euros or U.S. $ 1.7 billion for a period of 4 years. As is known, after not making a profit at all for years, Alitalia to cut thousands of jobs.
These are not able to compete with other airlines in the country that offer cheaper rates. Later, the airline's growth will be stimulated by the investment Etihad.
Currently, Director Eksekutir Etihad, James Hogan is developing its mission to build a network of flights to several countries in the world, for the sake of open traffic lane more to Abu Dhabi.
Alitalia become one of the largest investments made ​​Hogan. 49% of the value of shares will pave the way for the airline to manage the management and strategy. Previously, Etihad plays a major role in the financial rescue of Air Berlin Plc, after the airline had a deficit for years.
According to the Etihad, built cooperation has opened up a wider network, until now around 400 destinations. Hogan wants to target the economic center in the heart of Europe, through the management of Alitalia.