Sunday, May 24, 2015   

Etihad to buy Alitalia
(06-25 18:29)

Fast-growing Gulf carrier Etihad Airways says it and Alitalia have reached a deal in principle for the United Arab Emirates-based airline to buy a 49 percent stake in the struggling Italian airline.
Etihad said in a statement on Wednesday that the airlines have agreed on "the principal terms and conditions'' and will now work to finalize the details as soon as possible. It says the deal remains subject to regulatory approvals.
Financial terms were not disclosed.
Etihad CEO James Hogan said earlier this month that the carrier was looking forward to completing the deal.
The Gulf airline has snapped up stakes in several airlines in recent years, including Virgin Australia and Germany's second largest airline Air Berlin. --AP   
Other Business breaking news:
Hang Seng, Shanghai end higher (05-22 16:39)
Margin trading exceeds 2 trillion yuan, propelling risky rally in China markets (05-22 16:14)
German business confidence wanes (05-22 16:08)
Year end start for China led development bank (05-22 16:06)
European equities open higher (05-22 15:33)
Domestic demand lifts German economy (05-22 14:40)
Wal-Mart decides to bypass Li and Fung (05-22 14:28)
Nikkei edges up at close (05-22 14:25)
Hang Seng, Shanghai rally (05-22 12:45)
Goldin Financial shares rebound by 3.6pc (05-22 12:43)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.