Alitalia Cashes Etihad Check, Adds Additional JFK, GRU Routes

Alitalia will show increases on JFK and GRU routes this summer from its FCO hub. FCO-JFK route shows a mix utilization of 777 - 200 and A330 aircraft, where FCO-GRU utilizes a 777-200.

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Etihad Airways PJSC is close to an agreement to become Alitalia SpA’s biggest investor after studying the Italian carrier’s books for the past weeks, people familiar with the matter said. The two sides may sign a letter of intent as early as this week, said the people, who asked not to be identified because the talks are private.
Etihad, the Abu Dhabi flag carrier, is considering a cash contribution of at least €250 million ($343 million), two of the people said. “The accord isn’t final and a deal may still fall apart,” another person said.
Etihad, the smallest of the major three Middle East carriers, confirmed in December that it’s in talks with Alitalia, and the company said in February that it would decide within a month whether to invest in the unprofitable airline. Spokesmen for Etihad and Alitalia, which received a government-sponsored bailout last year, had no comment.
“Alitalia needs this investment by Etihad as it still has cash issue even after the latest capital increase,” said Andrea Giuricin, a professor at Milan’s Bicocca University. “Etihad can take a big slice of the Italian market, where Alitalia has still the leadership.”