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U.S. markets recover from steep losses
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.
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