Alitalia has €170m in short-term funding: board

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Alitalia has €170m in short-term funding: board

Italian flag-carrier Alitalia has around €170 million ($267 million) in short-term funding available but its board reiterates that it needs a large injection of capital in order to remain in business.

The board has welcomed yesterday’s statement from Air France-KLM, a statement which did not rule out the possibility of restarting discussions on an Alitalia takeover – discussions which collapsed last week when unions failed to support the plan.

Alitalia’s board met today to consider the impact of Air France-KLM’s withdrawal from the talks and to examine the loss-making Italian carrier’s assets and liabilities in order to assess prospects for continuity.

It says that the airline has around €170 million in financial credit available, which will enable it to keep operating for a short period. But the board stresses again that Alitalia ultimately needs a “substantial financial contribution” to its business.