Alitalia’s latest rescue plan - an investment of EUR1.4 billion

Bruno Ermolli has been selected by Italian Prime Minister, Silvio Berlusconi, to establish a new consortium with capital of at least EUR1.4 billion to take over the carrier. Roberto Colaninno, CEO of scooter manufacturer, Piaggio, is reportedly likely to contribute approximately EUR200 million, asking in return for the role of Chairman of the new company. Other partners are expected to include Air One, Intesa Sanpaolo and Mediobanca. Talks regarding alliances with international airlines, such as Air France-KLM and Lufthansa, will reportedly occur at a second stage, after Alitalia has been financially strengthened.

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