Alitalia and Etihad have undersigned the agreement



After eight months of laborious negotiations, today the airlines Alitalia and Etihad have signed the agreement based on which the second one will invest 560 million euros in the Italian society through a combination of capital injections, acquisitions of assets and other forms of financing and support to the patrimonial restructure of the aerial carrier. To this a total investment of 300 million euros from the current main shareholders of Alitalia will come abreast, between which Understanding Saint Paolo (88 million), Poste Italiane (75 million), UniCredit (63,5 million), Atlantia (51 million), IMMSI (10 million), Pirelli (10 million) and Gavio (2,5 million). Moreover, until 598 million euros of restructure of the debit short and medium term they constitute the contribution to the agreement of the institutions financial institutions and of the banks current shareholders and 300 million euros of new credit lines are supplied by institutions Italian financial institutions.

the investment of the company emiratina will be constituted by 387,5 million euros in order to acquire 49% of the Italian company, from 112,5 million euros in order to acquire a quota 75% of Alitalia Loyalty Spa, than work MilleMiglia, the program frequent flyer of the airline, and from the purchase from Etihad Airways of five couples of slots to the Heathrow airport of London of the value of 60 million euros that will be riaffittate to Alitalia to normal conditions of market.

Second the forecasts, the transaction would have to be capacity to term within next 31 December. The completion of the operation is subordinated to the performance from the main shareholders private publics and of Alitalia of some conditions and is subject also to the approvals of the competent authorities.

"For Etihad Airways - it has declared the president and managing director of the Middle Eastern company, James Hogan - this is strategic a commercial investment in the long term. Once carried to term, we will be engaged with the other shareholders to construct an Alitalia strengthened with a competitive, sustainable and profitable activity in a position to operating with success in the market of the total aerial transport. We - he has added Hogan - believe in Alitalia. It is a great potential brand with an enormous one. With the just level of capitalization and a solid strategic business plan, we have riposizionata confidence once again that the airline could be revitalized and becoming a primary total airline. Alitalia is the perfect ambassador for Italy and all this that it represents. Throwing again the brand, the airline will incarnate more and more all this that we recognize typically like Italian: the history, the culture, the food and the fashion. It must be an airline of which the Italians they can be fierce. However - it has emphasized Hogan - in last analysis it must operate as a business activity and the objective are to reach a sustainable profit from 2017". "Alitalia - it has specified the manager of Etihad - can have happened and can grow newly, but it needs to leave from solid bases. We have put in clearly from the beginning that our entire investment would have to be centralized on the support to the new performance of the slowly industrial one, and with this objective will be reached".

"This - the managing director of Alitalia has commented, Gabriele Del Torchio - is an excellent result for Alitalia. We have had to assume some difficult decisions in a very intense process of negotiation, but we have reached the consent of which we need in order to create the form and the dimensions of Alitalia of the future. This investment will offer to stability financial institution and it will afford us to place Alitalia, and the industry of the travels and the tourism in Italy, for an increase in the long term".

Alitalia and Etihad have specified that the operations plan for I throw again of the Italian company previews that, also preserving the importance of the routes short beam, will be concentrated to us on the sustainable increase of the routes long-range with departures is from Roma Fiumicino that give Milan Malpensa. This will include flights towards new destinations, an increase of the frequency in some current markets and a net of services upgraded for Abu Dhabi in order to capitalize on the increase of the traffic between Italy and the United Arab Emirates. The two companies have specified that Roma Fiumicino will emerge like large hub intercontinental European, with a maximum of five new broken in the course of next the four years, while the flights of long range from Milan Malpensa will be more than doubled reaching the 25 flights weeklies magazine in 2018.