> ANSA English > News

Lupi says if no Air France-KLM help, new air partner needed

Alitalia seeking capital injection of 300 million

31 October, 16:21
Lupi says if no Air France-KLM help, new air partner needed (ANSA) - Rome, October 31 - If Air France-KLM refuses to invest in a capital injection for troubled airline Alitalia, then another "international partner" must be found, Infrastructure Minister Maurizio Lupi said Thursday.

He spoke after the chief executive of the Air France-KLM group said it would only participate in the 300-million-euro capitalization if "very strict conditions" were met.

"If Air France were to decide not to subscribe to the capital increase in Alitalia, (then) it is evident that a strong international partner must be found," said Lupi.

Air France-KLM announced it has written off the value of its 25% stake in Alitalia, and chief executive officer Alexandre de Juniac said his Air France-KLM group has been "clear from the beginning" that it could still assist Alitalia - but only under "very strict conditions" including financial restructuring and changes to the airline's medium- and long-haul networks.

Earlier this month, Alitalia shareholders approved an emergency 300-million-euro capital hike to pull the airline from the brink of bankruptcy.