Alitalia capital increase approved

(ANSA) - Rome, July 25 - Shareholders in troubled Alitalia airline approved a capital increase of up to 250 million euros Friday to keep the carrier operating as its completes a deal with Etihad Airways. The deal itself was not discussed, sources said, but Alitalia's 2013 budget was approved. Abu Dhabi-based Etihad has been negotiating to invest about 560 million euros in exchange for a 49% stake in the struggling Italian carrier.
    But talks have snagged on conditions set by Etihad including debt restructuring and labour cuts.
    Alitalia did not release its 2013 financial results but reports have suggested it lost as much as 569 million euros.