Due diligence on Air Malta expected to take two months – Montezemolo

Alitalia president says it will take some two months to decide over a 49% stake in Air Malta

Alitalia president Luca Cordero di Montezemolo
Alitalia president Luca Cordero di Montezemolo

Alitalia’s president Luca Cordero di Montezemolo said the Italian national airline has already started the due diligence on Air Malta and is expected to take around two months.

Alitalia could buy a 49% stake in Air Malta. Alitalia itself is 49% owned by the Abu Dhabi airline.

“The due diligence has just started and it will take some time … perhaps two months,” Montezemolo told Italian reporters when asked about Alitalia’s possible acquisition of the Air Malta stake.

Alitalia forms part of the satellite of airlines owned by Abu Dhabi based airline Etihad Airways, which has been in advanced talks with government over an equity investment in the ailing Air Malta since November 2015 as revealed by MaltaToday.

The Alitalia president also confirmed that there would be no deal with Air Berlin.

Alitalia plans to invest €400 million in its business this year and is evaluating options to add more long-haul aircraft to its 98 narrow-body and 24 wide-body planes. Of the total, €240 million will pay for fleet expansion and cabin interior refurbishment, Alitalia CEO Cramer Ball said.

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