Alitalia has no plans for Air France-KLM merger
Alitalia CEO, Rocco Sabelli, stated the carrier has no plans in the immediate or near future to merge with Air France-KLM (ANSA, 05-Jul-2010). Air France, with a 25% stake in the Italian carrier, is already Alitalia's leading shareholder. Mr Sabelli commented the carrier's policy is to focus on JV agreements, stating: "Joint ventures produce the same benefits as mergers while keeping the airlines separate, for as long as it makes sense." Mr Sabelli added the carrier has no plans to increase capital with a rights issue in the near future. He also stated the carrier had a "very good" second quarter, allowing the carrier to have a "midyear result much better than for the first half of 2009 and one which is in line with the targets in our business plan".