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Etihad proposes turnaround plan returning Alitalia to profit in 3 years

: Saturday, May 17 - 2014 @ 02:17

Etihad Airways’ proposed turnaround plan, presented by the Abu Dhabi-based carrier as part of tie-up talks with Alitalia, could see the loss-making Italian airline return to profit by 2017, Reuters has reported, citing an Italian government source. Etihad’s plan sees Alitalia reaching a net profit of €108m by 2017, revenues of €3.66bn and earnings before interest, tax, depreciation and amortisation of €526m, but its proposal is tied to demands around debt that have yet to be tackled, the source said. “This is a base for negotiations,” the source said. “The numbers could still change considerably in the course of the talks.”

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Saturday, May 17- 2014 @ 2:17 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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