Struggling Italian airline Alitalia and United Arab Emirates carrier Etihad have completed a deal that will see a new company begin operating from 1 January 2015.
The agreement, first announced in June, will see Etihad acquire a 49% stake in Alitalia SAI for €387.5m.
The remainder of the firm will be held by the existing Alitalia CAI, which will have its assets and liabilities transferred to the new company.
The transaction will official take place on 31 December, with Alitalia SAI starting operating the following day.
