While the negotiation with Alitalia proceeds along an obstacle course, Etihad remains very active on the European front. In fact, according to foreign press reports, the Abu Dhabi airline will provide additional funds for the recapitalization of Air Berlin by purchasing convertible bonds for 300 million euros, while another 150 million euros will be placed on the market.
At the moment Etihad owns 30% of the German group, which for some years now has been in a difficult situation in terms of liquidity and which closed 2013 with losses of 315,5 million euros. After this operation, the Abu Dhabi carrier could rise to 49%.
In exchange for all this liquidity Etihad, which in the meantime has extended a credit line of 255 million euros to the German company from 2016 to 2021, asked and obtained that a radical restructuring plan be launched.
A discourse similar to the one made during the negotiations with Alitalia which, after having seemed on the verge of fading a few days ago, now seems to have regained strength. However, the Italian company, also with the help of the government, is willing to meet the two mandatory requests of Etihad, the one on the conversion of debts and on the liberalization of Linate. To understand at what stage the negotiations are, we will have to wait for the new letter from the Arab company.
Attachments: The Reuters article
