Italian Government Courts Air France-KLM to Buy into Alitalia
Posted on: Thursday, 28 August 2008, 09:00 CDT
The Italian government is seeking to attract Air France-KLM to buy into the restructured national airline Alitalia, after the previous deal between the two airlines fell apart, reported Reuters.
The Italian government has assembled a consortium of 16 domestic companies to invest in the restructured Alitalia to keep it operational but is looking to attract the interest of a foreign partner such as Air France-KLM or Lufthansa for the long-term viability of the Italian airline.
The news source quoted a source close to the matter as saying that Alitalia adviser Intesa Sanpaolo was expected to meet Air France-KLM officials to discuss the Alitalia salvage plan.
Air France-KLM had shelved plans to acquire Alitalia earlier in 2008 after criticism from unions and Italian prime minister Silvio Berlusconi, who was then in the opposition.
The Alitalia rescue plan is expected to outline the possible segregation of the airline into two parts, with Italian infrastructure minister Altero Matteoli saying that the troubled operations would be brought under bankruptcy regulations.
Source: Datamonitor
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