Struggling Airline on Course to Raise Requested Funds

By: AP Email
By: AP Email

MILAN (AP) - Struggling airline Alitalia says it is well on the way to raising the 300 million euros ($408 million) it has asked from shareholders as part of a broader rescue plan.

It says Thursday that it has received commitments worth 173 million euros and expects to secure the full amount sought by Dec. 10, citing strong interest expressed.

Loss-making Alitalia urgently needs the money to stave off bankruptcy. The board in October approved the capital increase, including funds from the Italian Postal Service, along with a 200 million euros line of credit from two Italian banks.

Alitalia is still looking for a strategic partner after Air France KLM said it would not participate in the capital increase. Air France-KLM is a 25-percent stakeholder.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 233765291 -
Gray Television, Inc.