Alitalia shareholders to approve new share issue ahead of Etihad deal

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By admin July 29, 2014 13:25

Alitalia shareholders to approve new share issue ahead of Etihad deal

Alitalia’s shareholders have accepted a proposal from the board of directors to increase the airline’s capital base by up to €250 million via a share issue.

The sale comes after major shareholder Poste Italiane sought guarantees that they will not be burdened with the carrier’s current debts should they increase their stake.

The sale is intended to boost Alitalia’s capital ahead of the proposed deal with Etihad Airways which will see the Abu Dhabi-based carrier acquire a 49% stake in return for a €600million investment.

The deal is currently in its final stages, with the two remaining issues being the restructuring of the airline’s debt, and proposed job cuts.

admin
By admin July 29, 2014 13:25