Alitalia board weakened after Spinetta resignation - Italy minister
He added, "The fact that a director resigns ahead of Alitalia's privatisation is a personal setback and a move that weakens the board when it should be working flat out," to prepare the airline for its privatisation.
Alitalia announced Spinetta's resignation this morning. The move comes ahead of a board meeting scheduled on Friday and could cripple Alitalia, whose board needs at least three directors to function under the company's by-laws.
With Spinetta's resignation the number of directors falls to two. Air France-KLM said simply that Spinetta "can no longer be on the board" in view of the Italian government's privatisation process for Alitalia and the fact that Air France is a business partner of the airline.
Bids for Alitalia have to be presented by Jan 29.