A multimillion euro rescue of ailing Alitalia by Etihad Airways was finalised today.
The UAE carrier has subscribed and paid for a capital increase of €387.5 million for the acquisition of a 49% share in the new Alitalia Società Aerea Italiana (SAI).
The transaction will become effective on December 31 and Alitalia SAI will commence operations on January 1.
The deal will see the transfer of air transport operations from the current Alitalia to the new Alitalia SAI.
The remaining 51% shareholding is held by Alitalia, which has contributed agreed assets and liabilities for the continuation of the airline.