Alitalia one hurdle away from sale
Posted on: Wednesday, 19 November 2008, 17:21 CST
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.
Source: United Press International
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