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Alitalia CEO to meet Etihad with proposal for deal-investor
May 5, 2014 / 10:36 AM / 3 years ago

Alitalia CEO to meet Etihad with proposal for deal-investor

MILAN, May 5 (Reuters) - Alitalia’s CEO Gabriele Del Torchio will present his counterpart at Etihad with a proposal aimed at reaching a deal for an investment by the Gulf-based airline in the struggling Italian carrier, one of Alitalia’s top shareholders said on Monday.

A meeting between the two top executives is due to take place on Tuesday.

“The CEO of Alitalia will present Etihad with a proposal,” said the CEO of core investor UniCredit, adding that the proposal would be backed by all shareholders and creditors.

Etihad is looking to buy up to 49 percent of Alitalia but does not want to take on the Italian airline’s large debt and wants to cut staff by up to 3,000 units, several sources with knowledge of the situation have told Reuters. (Reporting by Gianluca Semeraro, writing by Lisa Jucca, editing by Valentina Za)

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