Etihad Aviation Group has confirmed that president and CE James Hogan will leave the company July 1, naming chief people & performance officer Ray Gammell as his interim replacement. Etihad said Gammell will assume “full management responsibilities” with immediate effect. The carrier said Hogan’s permanent successor will be announced “in the next few weeks.” Gammell joined Etihad in 2009 and has led the airline’s people strategy. Before this he accrued more than 20 years’ leadership experience, spanning roles with technology firm Intel Corporation in the US and Ireland and in the finance sector with Royal Bank of Scotland. He also spent time as an officer in the Irish armed forces. Etihad also announced that SVP-group treasurer Ricky Thirion will become group CFO, replacing James Rigney. <br/>
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Etihad Airways agreed at the end of last year to repay a portion of 2 bonds maturing in 2020 and 2021 on behalf of Alitalia if the Italian airline ends up defaulting, two sources familiar with the situation said Monday. Etihad and a number of airlines in which it has equity stakes issued the bonds worth a combined US$1.2b in 2015 and 2016 via a special purpose vehicle known as EA Partners. Alitalia's exposure to EA Partners corresponds to roughly 19% of the $700m 2020 bond and about 20% of the 2021 bond, or about $235mof the overall principal. The sources were confirming an agreement first reported by ratings agency Fitch May 3, the day after Alitalia asked the Italian govt to put it under administration. The airline had debts of about E3b at the end of February. <br/>