Alitalia (AZA, Rome Fiumicino) will not receive further investment from current shareholder Intesa Sanpaolo, an Italian shareholder and at the same time a key creditor, unless its trade unions fully endorse the business plan proposed by Etihad Airways (EY, Abu Dhabi International).
The Italian bank's chairman Gianmaria Gros Pietro has said that his institute would only participate in Etihad's plans if unions would agree to the terms and conditions the UAE national carrier has set for its planned acquisition of 49% in financially ailing Alitalia.
