EU backs Alitalia takeover

EU transport chief says bankrupt airline must repay £380m rescue loan from government.

    Alitalia has been crippled by debts totalling some $1.5bn [AFP]

    However, it ruled that the group of investors would not be liable for repaying the loan to the state, which had been one of their conditions for buying and re-launching Alitalia.

    As a result, the loan will have to be repaid with the proceeds from Alitalia's liquidation.

    A new, relaunched airline is due to launch on December 1 after the former Alitalia stumbled earlier this year, losing $3.8m a day and crippled by debts totalling some $1.5m.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    From Zimbabwe to England: A story of war, home and identity

    The country I saw as home, my parents saw as oppressors

    What happens when you reject the identity your parents fought for and embrace that of those they fought against?

    Becoming Ocean: When you and the world are drowning

    Becoming Ocean: When you and the world are drowning

    One woman shares the story of her life with polycystic kidney disease and sees parallels with the plight of the planet.

    The evening death came for me: My journey with PTSD

    The evening death came for me: My journey with PTSD

    On a gorgeous Florida evening, a truck crashed into me. As I lay in intensive care, I learned who had been driving it.