Italy to sell a stake in loss making Alitalia SpA
Airlines and Airports, Announcements December 3rd, 2006
Italy to sell a stake in loss making Alitalia SpA
The Italian government has said that they are planning to sell off a stake in the unprofitable national airline Alitalia SpA.
The aim is to keep the airline company afloat and this might give a chance to Air France-KLM Group to take over the operations of the Alitalia.
The office of Prime Minister Romano Prodi spoke on this decision: “The strategic recovery of Alitalia cannot be done without the entry in the company’s capital of new industrial and financial partners.”
Italy has a 49.9% stake in the company, which is said to be worth around 655 million Euros.
This decision to sell off a stake in the company is also expected to bring a change in the management of the company.
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