I wonder what has happened to Etihad's investment in Alitalia. How much was it overall ? Presumably that is just lost. In which case the Sheikhs will be more than a little aggrieved.
On the other hand, if they have been leasing 8 Heathrow slot pairs to Alitalia, presumably for a song, that is a significant security on the investment. Guess that what remains of Alitalia in the future will be making an increased presence at London City.