Etihad confirms job losses in Alitalia deal

Etihad CEO James Hogan has warned that cost-cutting would be the major factor in the impending deal that will see Etihad take a 49% stake in Alitalia. The deal is expected to be finalised by July 15. Job losses and downsizing will be at the forefront of the cost-cutting measures, which follows the examples set when Etihad took equity stakes in Air Serbia and Air Seychelles. Hogan said: “This is about restructuring and moving a business to a sustainable profitability, and if you don’t restructure you won’t survive. Within the letter I sent to Alitalia regarding our investment, there were