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Russia poised for Alitalia talks

21 April 2008

Italy’s failing flag-carrier, Alitalia, faces a crucial week when its future looks likely to be decided at least as much by politics as economics.

Having made the salvation of the group’s “Italianness” central to his successful election campaign, Silvio Berlusconi has to deliver on the promise of an alternative solution to the bid tabled and then withdrawn by Air France-KLM. The group has only enough cash to stay airborne until about the end of May.

Representatives of the incoming and outgoing governments agreed to find a way to keep Alitalia going while its fate was decided. Sources close to the talks said it could include a line of credit worth €100m (£80m) to €150m.

source: Guardian.co.uk

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