ALITALIA AIRLINE TO BE HEADED BY EX-FERRARI BOSS

Chris Grad - Nov 8, 2014
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Last week, a number of reports have linked Luca Cordero di Montezemolo, the former Ferrari boss, with the future top job at Italy’s Alitalia Airline.

Mr. Montezemolo, who had been the chief of Ferrari for a number of decades, will be given the topmost job in the airline. This move is due to Etihad, the Abu Dhabi-based carrier, that bought 49% stake in Alitalia Airline. Multiple unnamed sources have also been cited saying that the number two job in the partnership will be taken by James Hogan, Etihad’s current Chief Executive Officer.

It was back in June this year that Etihad announced it was going to buy the 49% stake in the Italian carrier as a way to rescue the airline. Alitalia has been struggling and has come very close to collapsing a number of times in the past 10 years.

According to Reuters’ unnamed sources, the two men that are supposed to take the top two jobs at Alitalia are waiting for the European Authorities to sign off on their approval before they can be officially appointed to their new positions.

Another source said that the new company’s board will eventually nominate the former Ferrari boss and Etihad Airline’s CEO to their new positions in the company. Both the Italian and Abu Dhabi Airlines have yet to respond to these reports.

The Associated press ran a report about a falling out between Sergio Marchionne, Fiat Chrysler Automobiles’ CEO, and Montezemolo that led to the latter’s resignation as chairman of Ferrari.

Etihad has in recent years been buying stakes in partnerships which are meant to help in expanding its business. The purchase of a partnership stake in Alitalia is the most recent. Others include Aer Lingus, Air Serbia, Virgin Australia, India’s Jet Airways, Air Seychelles and Air Berlin. 

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