Alitalia loss widens

admin
By admin September 27, 2013 09:30

Alitalia loss widens

Alitalia yesterday said its net losses widened to €294m ($396m) in the first half of the year, from a loss of €201m over the same period in 2012. This news came as the board voted to increase the capital base of the airline by €100m with Air France-KLM board members understandably voting against the proposal. This additional drag is the last thing that Air France-KLM needs as it tries to get its own house in order.

Alitalia is trying to make itself more appealing to a purchaser by eliminating debt. The airline has reduced its debt to €946m from €1.023bn over a four month period during 2013. The irony is that the Italian government now wants Air France-KLM to purchase Alitalia but of course this might be too much of a strain in the here and now for the French/Dutch giant. Even so the match is a very good one and we have always stated here that the purchase would be highly beneficial for all Europeans – But of course the European Commission could throw a curveball at any such deal under competition laws.

admin
By admin September 27, 2013 09:30
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