Etihad says it has finalised the conditions it requires for a major investment in Alitalia, following months of negotiations.
Etihad did not give further details, but in a TV interview Italy's transport minister said Etihad was ready to invest around 600m euros in Alitalia.
Reports say that in return Abu Dhabi based Etihad will receive a 49% stake in Alitalia.
The deal needs to be confirmed by the board of Alitalia and other parties.
Reuters reports that Alitalia has agreed as many as 2,900 job cuts under the deal and that the Italian government has agreed to back a redundancy scheme for affected staff.
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