British Airways criticises Italy's financial support of Alitalia

The Italian government recently granted Alitalia an emergency loan of EUR300 million convertible into equity in order to avoid a bankruptcy filing. Brussels has expressed doubts over the legitimacy of the loan, although it has not analysed it yet. Walsh said the European Commission must adopt a strong position to maintain its credibility not only in Europe but globally, adding that, if the EC takes a hard line on the loan, Alitalia's chances of survival would be very low.

Date posted: 04-Jun-08
 

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