Chairman expresses confidence in Alitalia

Published: June 25, 2008 at 4:57 PM

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.

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Crude oil prices slide Monday (15 min)
UPI NewsTrack Business (16 min)
Hotel uses own bees for honey (31 min)
U.S. harvests on track, except for corn (36 min)
Mauer voted AL Most Valuable Player (38 min)
UPI NewsTrack Health and Science News (45 min)
Police: Suspect ate robbery note (58 min)
fark
Bethelehem police drop charges against non-tippers. They must have been wise men
Some ugly ass deep-sea creatures discovered in a Census of Marine Life. #8 will haunt you forever...
Woman fingers man snapping pubics at Publix
Grandparents are cool because they let you do things mom and dad won't. Like, say, hanging onto...
Today's most incoherent actual headline: "Trooper fired after hat fib wants back in"
Photoshop this held horse