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Alitalia names financial turnaround expert from Jet Airways India as new CEO from March

Italy's flagship airline Alitalia says it has named a financial turnaround expert as its new CEO. He will take up his new post in March.

Alitalia said in a statement Thursday that Cramer Ball, 48, will join the Italian airline from Jet Airways India, where as CEO he helped reduce losses. He previously led Air Seychelles to profitability.

Alitalia Chairman Luca Cordero di Montezemolo said Cramer's "proven abilities transforming companies to success," made him the right choice to implement the airline's target to return to profitability in 2017.

Long-troubled Alitalia was taken over last year by Etihad Airlines, which launched a restructuring plan, including fleet upgrades and new routes.

Cramer replaces Stefano Cassano, who quit after less than a year on the job.