As Etihad Airways expressed early interest in a total or partial takeover of Alitalia, analysts said the carrier’s investment model is unlikely to continue in its current form. And this is more so the case than ever after Etihad Thursday reported US$1.87b in net losses for 2016, with the carrier saying it expected to continue facing headwinds in 2017. Etihad said it recorded in 2016 an $808m charge on certain assets and financial exposures to equity partners, mainly related to Alitalia and Airberlin. The continued challenges drove analysts to question whether Etihad would continue to invest particularly in Alitalia and Airberlin, the latter of which was described by one analyst as a major drain on Etihad’s financials. Last Friday, Etihad was one of 10 companies to submit a non-binding offer for stakes in Alitalia. <br/>