Alitalia to present Etihad with proposal for deal
06/05/2014 9:13 am EDT

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Gabriele Del Torchio, chief executive of Alitalia will present his counterpart at Etihad today with a proposal aimed at reaching a deal for an investment by the Abu Dhabi-based airline in the struggling Italian carrier, Reuters has reported. “The CEO of Alitalia will present Etihad with a proposal,” said the CEO of core investor UniCredit, adding that the proposal would be backed by all shareholders and creditors. Etihad is looking to buy up to 49% of Alitalia but does not want to take on the Italian airline’s large debt and wants to cut staff by up to 3,000 units, several sources with knowledge of the situation have told the news service.

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