Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Chairman expresses confidence in Alitalia

|
|
 
  
Published: June 25, 2008 at 4:57 PM
Advertisement

ROME, June 25 (UPI) -- The chairman of Italy's troubled airline Alitalia told Italian authorities Wednesday he was "certain" a rescue plan would be in place by August.

"I am certain that by the end of July we will have a detailed perspective," Alitalia Chairman Aristide Police told the Italian Civil Aviation Authority Wednesday, ANSA reported.

Police said the Intesa San Paolo bank was pursuing a "sustainable industrial plan" that included "the entry of fresh capital."

Once the new capital was in place, the airline would seek partners, Police said.

Italian Economy Minister Giulio Tremonti reiterated the claim, saying the bank had been working "very hard" to come up with a "definitive solution in two months," ANSA reported.

The airline has reportedly been losing $5.4 million a day. Added to its troubles, Tremonti said Air France would take legal action against Alitalia in the wake of their merger talks, which broke off in April.

Topics: Giulio Tremonti
Recommended Stories
© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
Protesters, police clash at NATO summit Notable deaths of 2012 2012 Billboard Music Awards
The 137th Preakness Stakes Annual Solar eclipse occurs in U.S. Chen Guangcheng arrives in the U.S.
Additional Business News Stories
1 of 29
65th Annual Cannes International Film Festival
View Caption
A contortionist performs on the red-carpeted steps of the Palais des Festivals before the screening of the film "Holy Motors" during the 65th annual Cannes International Film Festival in Cannes, France on May 23, 2012. UPI/David Silpa
fark
"I smoked with a cop," said a man who identified himself as Panda, and it was "some of the best...
Missing [✔] White [ ] Girl [✔] aaaaaand that's why the news is just now reporting that she disappeared...
What a 19-year old said after peeing in the back of a police car: C) I told you I had to go, you...
Yes I built a gigantic bull sculpture next to the highway. DO I LOOK CRAZY TO YOU?
Kid refuses to wear hearing aid because "Superheroes don't", so Marvel creates one for him
If you are in the mood for a real-life adventure story, read about William Morgan, an American who...