Alitalia shareholder rejects airline’s debt restructuring

March 2, 2014 12:23 am

Intesa Sanpaolo, one of Alitalia’s biggest creditors and shareholders has rejected the idea of restructuring the airline’s debt to facilitate an investment by Etihad Airways, highlighting the challenges in reaching a deal to save the Italian carrier from bankruptcy, Zawya Dow Jones has reported. “They [Etihad Airways] will ask to restructure [the debt] and we will say that we won’t restructure it,” Intesa Sanpaolo’s chief executive, Carlo Messino, told reporters on the sidelines of an event. Abu Dhabi-based Etihad Airways is interested in buying up to 49% of Alitalia with the aim of expanding in Europe and the Americas, as well as drawing more traffic to its hub in the emirate.