Alitalia Once Again Battles For Survival

By Cathy Buyck
Source: Aviation Week & Space Technology
October 14, 2013

Less than five years after it was rescued from bankruptcy and bought by a group of private investors for €1 billion ($1.35 billion) Alitalia is on the ropes again. A merger with Air France-KLM is one possible scenario to save the Italian airline, but the Franco-Dutch group is in restructuring mode itself and Italian patriotism might resist the idea of foreign operator taking control of its cherished flag carrier.

The struggling Italian group needs at least €455 million in extra funding from shareholders and creditors to fend off bankruptcy and return to profitability under a new three-year turnaround plan announced in July by CEO Gabriele Del Torchio.

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