Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Etihad tight-lipped on Alitalia investment offer  Join our daily free Newsletter

MENAFN - AFP - 04/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Etihad Airways chief James Hogan declined to comment Sunday on the progress of talks to acquire a stake in Italy's debt-laden national carrier Alitalia.

"I've got no comment," Hogan told a news conference in Abu Dhabi when asked if the talks were still on.

Italian media had reported that Alitalia's chief Gabriele Del Torchio will travel to Abu Dhabi on Monday.

A source close to the negotiations told AFP last month that it was "optimistic" to think an offer could be imminent, and said that talks that had taken place between Prime Minister Matteo Renzi and Hogan were "a good sign".

Italian Transport Minister Maurizio Lupi said in April that an assessment of Alitalia's accounts had been completed and hinted that an offer fromEtihad could be imminent.

The two airlines have been in contact since December, and in February said they had entered a "final phase" in the process.

However, Alitalia is laden with debts and the negotiations have been complicated.

Etihad is reportedly planning to acquire a stake of between 40 and 49 percent in the Italian carrier -- below the 49.9 percent limit for non-European airlines.

Alitalia struck a deal with trade unions in February to cut the equivalent of 1,900 jobs, but some reports indicate that Etihad may want more layoffs.

Etihad is expanding rapidly and has bought minor shares in several smaller carriers including Air Berlin and India's Jet Airways as it competes with larger Gulf rivals Emirates and Qatar Airways.


 


AFP




  MENA News Headlines
 Sep 25 2016 - Libya recovers USD127m from Lehman, Cornhill CapitalMENAFN
(MENAFN) Libya"s USD67bn sovereign fund recovered USD73mn from the bankrupt Lehman Brothers and uSD53.8mn from Cornhill Capital after legal battles.Additionally, the investment authority is involved ...

 Sep 25 2016 - EU grants €200mn for ongoing energy projects in EgyptMENAFN
(MENAFN) The EU will grant Egypt a €200mn for ongoing energy projects in the energy sector.Furthermore, the grant will help the country designs its new Integrated Sustainable Energy Strategy for ...

 Sep 25 2016 - For first time, UAE takes Asia Cooperation Dialogue chairEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NEW YORK, 24th September, 2016 (WAM) – For the first time, the UAE has chaired the 34-member Asia Cooperation Dialogue. Dr. Thani Al Zeyoudi, Minister ...

 Sep 25 2016 - Dubai Cares pledges US$ 10 mn to education in emergenciesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 24th September, 2016 (WAM) -- Dubai Cares, part of the Mohammed bin Rashid Al Maktoum Global Initiatives, has announced the creation of a new ...

 Sep 25 2016 - Obama vetoes Justice Against Sponsors of Terrorism ActEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) WASHINGTON, 24th September, 2016 (WAM)--US President Barack Obama vetoed the "Justice Against Sponsors of Terrorism Act" on Friday, warning that the bill ...

 Sep 25 2016 - Al Jaber presides UAE delegation at Annual Ministerial Meeting of Group of 77 and ChinaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NEW YORK, 24th September, 2016 (WAM)--Dr. Sultan Ahmed Al Jaber, UAE Minister of State, has presided the UAE delegation at the Annual Ministerial Meeting of ...

 Sep 25 2016 - UAE- Hamed and Khalid bin Zayed offered condolences to the family of nation's martyr Saeed Al FalasiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 24rd September, 2016 (WAM) -- H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince's Court and H.H. Sheikh Khalid bin Zayed Al ...

 Sep 25 2016 - UAE, ICRC sign agreement on humanitarian aid in YemenEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NEW YORK, 24th September, 2016 (WAM)--The Ministry of Foreign Affairs and International Cooperation signed on a cooperation agreement on Friday with the ...

 Sep 25 2016 - One million Saudi visitors toured UAE last year: Saudi ambassadorEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 24th September, 2016 (WAM)--Dr. Mohammed bin Abdul Rahman Al Bishr, Saudi Arabia ambassador to the UAE, has said that about one million Saudi ...

 Sep 25 2016 - UAE- Abdullah bin Zayed hails UN Security Council role in maintaining international peace and securityEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NEW YORK, 24th September, 2016 (WAM)--H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, said that the UAE ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help