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Etihad submits non-binding offer for Alitalia

Staff Writer |
Etihad Airways has emerged as one of around 10 bidders interested in acquiring a partial or full stake in the Italian airline Alitalia.

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This is suggesting the Abu Dhabi-based carrier remains committed to its investment in the troubled airline.

The non-binding bid, submitted ahead of a deadline on Friday, also suggests that Etihad may not be ready to reverse course on its international investment strategy, despite last week selling off its stake in Switzerland’s Darwin Airline following a strategic review launched last year.

This weekend Etihad was named in the Italian press as one the airlines that had submitted a non-binding offer for total or partial takeover of Alitalia, alongside the Irish low-cost carrier Ryanair.

Three months ago, Etihad appeared ready to walk away from its 49 per cent shareholding stake in Alitalia, after the Italian carrier was put into administration following a €2 billion (Dh8.56bn) recapitalisation deal that was vetoed by Alitalia employees.


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