Alitalia one hurdle away from sale

Alitalia’s administrator said one hurdle remained before the sale of the Italian airline’s flight operations to an Italian investment group is completed.

The deal requires a green light from the Industry Ministry. Once that is done, government-appointed administrator Augusto Fantozzi said he will accept the offer from Compagnia Aerea Italiana, ANSA reported Thursday.

With debts that reached $1.71 billion in November last year, the airline has been struggling to find a buyer. The Italian government loaned the airline $477 million to keep it afloat in April after Air France-KLM walked away from negotiations.

The investment group’s offer was in the neighborhood of $1.24 billion, ANSA reported.