Italian minister 'convinced' Intesa Sanpaolo can complete Alitalia relaunch

Intesa Sanpaolo is working for the government and Alitalia on a business plan to relaunch the airline, which is reportedly will involve a financial restructuring and new shareholders.

Scajola said, "I don't know if in the next government ministerial meeting will consider the changes to the Marzano law needed for Alitalia,"

Reports have said that the Marzano law on special company administration, used for the Parmalat and Cirio failures, requires changes for application to the airline sector and for Alitalia.

Under such a restructuring, Alitalia's bank creditors could replace debts owed with new share stakes, reports said.


Weekend reports said Intesa Sanpaolo's plan foresees 5,000 to 6,000 job cuts and an injection of 700 million to 800 million euros in new capital. 
 
 

(c) Date posted: 9-Jul-08

 

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