Alitalia's board has approved a letter of intent signed with state engineering company Fintecna under which the firm has agreed to buy the airline's non-core businesses. Details of the agreement have not been released and Fintecna has not stated whether it would acquire the airline's maintenance and ground services business. Alitalia says that Fintecna will negotiate a contract with the carrier to acquire - along with other private investors or public bodies - a "majority shareholding" in the new Alitalia company which will emerge from the restructuring process set out in the airline's 2004-8 business plan.


Source: Flight International