ROME, Dec. 23 (Xinhua) -- Etihad Airways, the national airline of the United Arab Emirates (UAE), has completed investment in Italian flagship carrier Alitalia, Alitalia said in a statement on Tuesday.
"Alitalia and Etihad Airways today announced the completion of all the formalities related to the transfer of air transport operations," the statement read.
The new company, named Alitalia SAI, will be fully operational with effect from Jan. 1, 2015.
"Etihad Airways has subscribed and paid for the capital increase of 387.5 million euros (about 473 million U.S. dollars) for the acquisition of a 49 percent share in Alitalia SAI," the statement said.
The remaining 51 percent shareholding was held by Alitalia through MidCo, the intermediate company between Alitalia's previous holding and Alitalia SAI, which has contributed the agreed assets and liabilities for the continuation of the airline.
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