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


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