Alitalia re-launch to include new co injecting EUR1.5 billion

The report added that as part of the plan, rival Italian airline Air One -- acting in concert with the people planning the new company -- should be transferred to Alitalia for some 300 million euros, against the 550 million euros at which Air One was valued last December when it presented an offer to buy the 49.9 percent stake in Alitalia being sold by the Italian state.

Furthermore, some of the activities of Alitalia, like the information technology and ground services, in particular maintenance, will be outsourced while ground handling will remain within Alitalia, the report said. In a second stage the plan could envisage also a foreign partner, depending on the special measures the government will take to manage the excess personnel. Intesa Sanpaolo, which is acting as the advisor for the restructuring, may provide details of the current situation at the Alitalia shareholder meeting.

Date posted: 27-Jun-08  

Other Alitalia News

• Alitalia extends multi-year cvontract with ITA Software
• Three new A320 Airbus for the Alitalia fleet
• IBA starts the sale process for the remaining Alitalia Assets
• Alitalia widens its international and intercontinental network with 13 new destinations operated in codeshare with Air France/KLM
• Alitalia to increase company capital reserved for industrial partners, Air France-KLM
• Alitalia and Air France-KLM launch new strategic partnership
• Alitalia - The European Commission adopts two State aid decisions
• Alitalia Extraordinary Administrator mandate to take legal action
• Alitalia - CAI to take on debts and make cash payments in return for taking ownership
• Alitalia - Website opens for creditors to submit applications