Poste Italiane to evaluate Etihad plan before providing Alitalia with additional finance

Poste Italiane stated (01-Jul-2014) it will first evaluate the impact of an expected investment of Etihad Airways in Alitalia before deciding whether to provide the carrier with additional finance. As previously reported by CAPA, the company provided Alitalia with a EUR75 million injection as part of its EUR500 million capital raising in 2013. Poste Italiane stated: "The alliance with an industrial partner can create the conditions necessary for the expansion and recovery of the airline. Alitalia is yet to provide, however, all the elements necessary for a complete evaluation of the impact of an agreement with Etihad might have on the company's capital and debt." Poste Italiane added: "The interest of Poste Italiane continues to be primarily related to industrial and commercial synergies to be realized in the field of logistics; the Board of Directors of Poste Italiane will, however, consider any new investments only after careful analysis of the economic and financial returns associated with the business plan, the corporate structure of the agreement and the enhancement of its shareholding." [more - original PR - Italian]