Register | Forgot Your Password? | Close

MILAN (AP) - Shareholders in the Alitalia airline have agreed to a 300 million-euro ($400 million) capital increase to save Italy's flagship carrier from bankruptcy.

It is still unclear which shareholders will contribute. The airline said in a statement Tuesday that the 21 Italian shareholders and Air France-KLM, the largest stakeholder, have 30 days to decide whether to exercise their options to contribute money and increase their stakes.

The capital increase can already count on 75 million euros from Italy's postal service and a 100-million-euro bridge loan.

The postal service's participation has elicited accusations of protectionism, which Finance Minister Fabrizio Saccomanni dismissed as `'hasty." He said Alitalia will look for international partners.

The current board, which approved the rescue plan last week, has offered to resign to reflect changes in ownership.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
share this story:
Attention Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus