(MENAFN- Saudi Press Agency) The former boss of Ferrari, Luca Cordero di Montezemolo,was on Wednesday appointed chairman of loss-making Italian airlineAlitalia, which is seeking a change of fortunes by tying up with
Etihad, a wealthy peer from the United Arab Emirates, dpa reported.
Under a deal approved by European Union regulators two weeks ago,
Etihad is to acquire a 49-per-cent stake in Alitalia. Through its
investment, a new business plan and staff layoffs, it has pledged to
return the company to profits within three years.
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