March 3, 2014 / 9:41 AM / 5 years ago

Etihad CEO says at final phase of due diligence on Alitalia

ABU DHABI, March 3 (Reuters) - Etihad Airways is in the final phase of due diligence on its possible investment in Italian carrier Alitalia, the Abu Dhabi airline’s chief executive James Hogan said on Monday.

Speaking to reporters, he also said that for an investment to take place, Etihad would have to be convinced that Alitalia could be moved to profitability.

Talks between the airlines intensified last month and sources close to the matter said Etihad might be interested in buying a stake of up to 40 percent in the Italian carrier.

Reporting by Praveen Menon; Editing by Andrew Torchia

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