Alitalia names Prato as new president

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Italy's finance ministry has appointed Fintecna head Maurizio Prato as the new president of Alitalia following the resignation of chairman Berardino Libonati, who stepped down after Italy's attempt to privatise the carrier collapsed. Fintecna is a state-owned holding company.

Libonati took over as chairman in February - replacing Giancarlo Cimoli, who had held both the chairman and chief executive roles - part-way through the government's seven-month attempt to sell Alitalia. It holds a 49.9% stake in the carrier. Cimoli himself joined in May 2004.

The privatisation process collapsed in July as the three shortlisted parties baulked at terms attached to the sale.