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Alitalia to partner with Air France-KLM
Published: Jan. 6, 2009 at 7:00 PM
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ROME, Jan. 6 (UPI) -- The reborn Italian air line Alitalia is set to sell 25 percent of its shares to Air France-KLM (OTCPK:AFRAF), sources said Tuesday.
The collapsed national airline was resurrected by a private business group, which adopted the airline's name. The plan to find a foreign strategic partner will be formally adopted in board meetings Friday, ANSA news reported.
Informed sources said Air France-KLM will pay $413.5 million for a quarter of the company.
The other contender for Alitalia's partner, Lufthansa, said Tuesday it considered itself in the running to join forces with Alitalia, but has not made a formal offer, ANSA said.
© 2009 United Press International, Inc. All Rights Reserved.
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