Etihad proposes turnaround plan returning Alitalia to profit in 3 years

May 17, 2014 2:17 am

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.”