Alitalia extends capital increase deadline

Alitalia has extended the deadline for subscription to a capital increase to November 27 – the original deadline was initially set to expire today. The extra time will give shareholders including Air France-KLM more time to consider a new strategic plan adopted by Alitalia’s board yesterday. However, the Italian media have reported that Air France-KLM has already voted against the revised plan, which includes reducing the number of medium-range aircraft, but keeping flights stable, as well as a severe reduction of costs. There was no reference to any job cuts.