MILAN, July 14 Creditor banks of Alitalia have
reached agreement on how to share the burden of a debt
restructuring for the Italian airline, UniCredit Chief
Executive's Federico Ghizzoni said on Monday.
The green light from the banks, together with an agreement
between Alitalia and the unions on job cuts, are key factors for
the airline to seal the final terms of a rescue deal with Abu
"All is set among us," Ghizzoni told journalists at the end
of a closed-door meeting he attended with executives of Intesa
Sanpaolo, Banca Monte dei Paschi, Banca
Popolare di Sondrio and Alitalia. He did not give any
Until now Banca Popolare di Sondrio had resisted the other
creditors' attempts to find common ground on the restructuring
of Alitalia debt, which stood at 800 million euros ($1 billion)
at the beginning of June.
Alitalia has also made progress on jobs in recent days as it
reached a deal with all but one union on layoffs on Sunday.
Abu Dhabi's state-owned airline and Alitalia laid down last
month the principal terms and conditions for Etihad to buy 49
percent of the Italian carrier and pledged to finalise the
details as soon as possible.
Etihad's Chief Executive James Hogan is due to arrive in
Rome for an event on Tuesday.
(Reporting by Andrea Mandala; writing by Francesca Landini;
Editing by Janet Lawrence)