Alitalia has to embrace change, says Etihad CEO
ATP- Arab tourism portal- Etihad Airway s chief executive has said Alitalia cannot afford to “revert to past practices”, as the Italian airline begins to show signs of improvement. The Abu Dhabi-based airline made a $627 million investment in Alitalia, equating to a 49 percent equity stake, as part of a $1.9 billion restructuring plan for the Italian carrier.
Alitalia recorded a 2015 first-half net loss of $144 million in its latest figures released last month, which the airline’s board described as “in line with business plan forecasts” and a “slight improvement” on expectations.
James Hogan, CEO of Etihad Airways, speaking in Milan to the International Forum of Sovereign Wealth Funds, said while there are signs of progress for Alitalia, it was important that it didn’t slip back into old habits.