Alitalia reports third-quarter profit of seven million euros
Colaninno to resign as CEO of Italian airline after cash plan31 October, 18:31
Chairman Roberto Colaninno also announced that after a major capitalization plan is implemented, he will no longer be a manager at Alitalia, but would remain on the board. "After having supported the recapitalization of Alitalia, at the end of the (relevant) operations...my resignation will be formalized," he said in a statement. "I will not be available to take up a top position again".
Earlier this month, Alitalia shareholders approved an emergency 300-million-euro capital increase to pull the airline from the brink of bankruptcy.
Meanwhile, in data approved by the company's directors, Alitalia said that earnings before interest and taxes (EBIT) for the quarter was reported as 36 million euros, down from third-quarter results of 50 million euros in 2012.
In the first nine months of this year, Alitalia posted a loss of 162 million before interest and taxes, compared with a loss of 119 million euros in January to September 2012.
The carrier also lowered its net debt to 813 million euros in the third quarter after trimming debt in the previous quarter ending June 30 to 851 million euros.