DUBAI Feb 2 Etihad Airways is in the final
phase of a due diligence process that may result in a potential
investment by the Abu Dhabi carrier in troubled Italian airline
Alitalia, both companies said in a joint statement on Sunday.
Alitalia and Etihad have been in talks for weeks on a
possible investment by the Gulf carrier, which sources close to
the matter say may involve Etihad buying a 40 percent stake in
The two companies and their advisors will determine a common
strategy that meets the objectives of both parties in the next
30 days, the statement added.
The Gulf airline had earlier confirmed talks with Alitalia
but declined to give any further details on the discussions.
The announcement comes as Italy's Prime Minister Enrico
Letta is on a visit to United Arab Emirates to boost bilateral
ties between the two countries. He is scheduled to address the
media in a press conference later this evening in Abu Dhabi.