Qatar Airways, which is looking into a potential acquisition of Meridiana, on Monday said that the Italian airline would have to undertake painful measures before a deal can be worked out.
Akbar Al Baker, the chief executive of Qatar Airways, said that he is in talks with employees and unions, and if there is "an impasse" or if they cannot get a partnership with the airline they will not take a share in Meridiana.
“[It has to be] a win-win for both sides,” he said at the Arabian Travel Market in Dubai. “If we reach an amicable settlement with restructuring of the company we will partner.”
In February, Italian media reported that Meridiana was in advanced talks with Qatar Airways to sell it a 49 per cent stake.
Abu Dhabi’s Etihad Airways owns a 49 per cent stake in Italy’s flagship carrier Alitalia through a €1.7 billion (Dh7bn) deal in 2014.
Speaking about the negotiations with Meridiana, Mr Al Baker said that the terms and conditions of working for Qatar Airways required a culture where people have to deliver.
“We cannot accept working conditions that are a one-way street. We are an airline. We like to get into business and serious business,” said Mr Al Baker. “For the initial period, there will have to be some pain on the part of the employees and they have to accept this.”
Meridiana was established in 1963 with the aim of promoting tourism on the Italian island of Sardinia. The Italian carrier was delisted from the stock exchange in May 2013. It owns a fleet of 20 aircraft and carries 4 million passengers annually, according to its website.
Mr Al Baker also said Qatar Airways would release its financial results in June or when “its last financial year audit is complete”.
selgazzar@thenational.ae
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