The Board of Directors of Alitalia met yesterday to hear a review from independent advisors Roland Berger on the airline’s proposed business plan.
The Board agreed that a final adjusted business plan will be presented by the end of the month.
The Board was also presented with Alitalia’s financial situation by CEO Cramer Ball. He explained that the company is in line with achieving at least €160 million of cost savings in 2017, as announced at the January meeting of the Board.
Deputy Chairman James Hogan reaffirmed Etihad Airways’ strong commitment to supporting Alitalia’s turnaround plan and he said that Etihad and banking shareholders are fully aligned in working towards a successful future for Alitalia, although challenges still remain to achieve a cost structure that will allow the company to remain competitive.
The Board also took note of the decision by Roberto Colaninno to step down and it is now waiting for shareholder CAI to propose a new director. A replacement for independent board member Antonella Mansi will be proposed soon.