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Alitalia Gets Green Light

Alitalia Gets Green LightAlitalia Gets Green Light

The European Commission has given the green light for United Arab Emirates’ Etihad to buy a large stake of Italy’s ailing Alitalia, DW reported. The latter said it expected a sizeable cash injection to keep it afloat. The EU executive on Friday approved a June deal between the two national carriers, under which Etihad would acquire a 49% stake in Alitalia. Economists said the merger would reinforce Etihad’s presence in Europe, where the airline already owned minority stakes in Air Berlin, Aer Lingus and Air Serbia. For Italian authorities the deal offered fresh hope that Alitalia’s long-standing dance with the brink of bankruptcy would finally be over.

Financialtribune.com