Alitalia adviser studying putting airline into administration - report

Administration procedures for large companies, the Marzano law, would allow separating Alitalia's core business from its debt and creating a new company to restructure.

Alitalia's creditors would see their investment returned at a discount either in cash or in shares of the new Alitalia company.

After the deal with Air France-KLM collapsed in Apr-08, the situation of the state-owned company has worsened and in the last few weeks it has been reportedly losing about EUR3 million per day.

Date posted: 19-Jun-08
 

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