24-Dec-2012 1:20 PM

Alitalia reportedly on verge of bankruptcy

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%.