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Alitalia reportedly on verge of bankruptcy

24-Dec-2012 1:20 PM

Alitalia is reportedly on the verge of bankruptcy with it reportedly losing EUR630,000 per day in addition to its EUR730 million deficit accumulated over four years of private ownership (AFP/Repubblica, 21-Dec-2012). The airline also risks being negatively impacted by the end of an agreement with shareholders on 12-Jan-2013 which prevented the selling off of shares. Air France-KLM is reportedly looking at another takeover bid for the carrier of which it already owns 25%.