50 SKY SHADES - World aviation news

Alitalia Wants a Major Stake in Air Malta

Download: Printable PDF Date: 28 Apr 2016 08:55 category:
Publisher:
Alitalia Wants a Major Stake in Air Malta - Airlines publisher
Krista Kuznecova
Country: Malta Aircraft: Airplanes Airline: Air Malta
Source: Skift

Italian airline Alitalia says it is considering buying a 49 percent stake in Air Malta.

Alitalia, which is controlled by Abu Dhabi carrier Etihad Airways, signed a memorandum of understanding Wednesday with the Maltese government to launch due diligence on a possible deal. Alitalia CEO Cramer Ball said any deal would not hurt Alitalia’s three-year re-launch, which includes the goal of returning to profit by 2017.

Malta tourism minister Edward Zammit Lewis said Air Malta will cease talks with other airlines, and that financial details of a possible deal are still to be determined. No deadline has been set.

Loss-making Air Malta is in the last year of a five-year restructuring plan agreed with the European Commission in return for approval of 130 million euros in state aid.



Loading comments for Alitalia Wants a Major Stake in Air Malta...


Recommended

Zhukovsky International Airport can become a "bridge" between China and Russia

Zhukovsky International Airport and Pegas Fly airline announce the launch of a large-scale program to support Chinese tourism in the Russian Federation and the launch of a flight on the route Jinan (P...

For Third Consecutive Year Deer Jet wins as “World’s Leading Private Jet Charter”

The World Travel Awards (WTA), the travel industry’s leading awards programme, reunited hundreds of leaders representing the best of the world’s hospitality for a glamorous night at the JW...

Peruvian Government: “Satellite investment recovered after first year of operations”

PerúSAT-1 has delivered more than 71,000 images for more than 80 organisations PerúSAT-1 has completed its first year of operation and the Peruvian government has recently declared th...

Boeing Board Raises Dividend 20 Percent, Establishes $18 Billion Share Repurchase Authorization

The Boeing board of directors declared the company's quarterly dividend will increase 20 percent to $1.71 per share. The board also replaced the existing share repurchase program wi...