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29 March 2024

Breakthrough in Etihad-Alitalia negotiations

Published
By Wam

Etihad Airways on Sunday confirmed that it will forward a letter detailing the conditions precedent and the criteria for a proposed equity investment by Etihad Airways that have been negotiated with Alitalia and its stakeholders over the past months.

"The Italian government appreciates the strategic importance of this transaction and looks favourably at the Etihad Airways - Alitalia partnership," said Etihad Airways in a press release.

Upon confirmation by the board of Alitalia and its stakeholders of their acceptance of these terms, the airlines will proceed to final documentation in order to complete the proposed transaction, in line with EU and other regulatory requirements.

President and Chief Executive Officer of Etihad Airways, James Hogan, said, "We are delighted to be able to move forward with this process and look forward to the successful conclusion of the proposed transaction with Alitalia.

"An equity investment in Alitalia will be beneficial not only for the both airlines, but, more importantly, it will give more choice and broader travel opportunities to business and leisure travellers into and out of Italy," he said.

Gabriele Del Torchio, Chief Executive Officer of Alitalia, said, "This is an excellent outcome for Alitalia. This investment will provide financial stability and confirms Alitalia's key strategic role as an infrastructure player in the travel and tourism industry in Italy for long-term growth."

Roberto Colaninno, President of Alitalia, said, "We are delighted to move forward with Etihad Airways providing Alitalia with an ideal strategic partner enhancing the Company's long term growth perspectives."

Etihad launches daily service to Los Angeles

Etihad Airways on Wednesday launched its daily EY 171 service between Abu Dhabi and Los Angeles.
 
Los Angeles is Etihad Airways’ fourth US destination, joining Chicago, New York and Washington, DC on the airline’s network. This will increase further on December 3, with the addition of direct flights to Dallas/Fort Worth.
 
James Hogan, Etihad Airways’ President and Chief Executive Officer, said, "Los Angeles is one of the world’s premier travel destinations and iconic cities, and we are delighted that today it becomes part of the Etihad Airways network.
 
"The greater Los Angeles area has a diverse population of more than 18 million people, the second largest in the US, who can now access direct flights to Abu Dhabi and beyond into the Middle East and Indian Subcontinent."
 
Gina Marie Lindsey, Executive Director at Los Angeles World Airports, said, "We are thrilled that Etihad Airways chose LAX for this new, historic service and warmly congratulate them on their inauguration.”
 
In mid-July, the service will transition to a three-cabin, long-range Boeing 777-200 LR which will be configured with 237 seats, including eight first class suites, 40 business class flatbed seats, and 189 economy class seats.