28-Apr-2010 10:39 AM

No capital increase for Alitalia in 2010

Alitalia Chairman, Roberto Colaninno, confirmed Alitalia will "not need a capital increase" in 2010 but added, "as for next year, we'll see" (ANSA, 27-Apr-2010). Any capital increase or rights issue for Alitalia would nullify a four-year lock-up clause in Compagnia Aerea Italiana's (CAI) founding charter and allow Air France-KLM to increase its stake and possibly buy out CAI members. Mr Colaninno also commented that the economic downturn in 2008 and 2009 "forced our competitors to do what we already did through our restructuring" in 2009.

Alitalia: "This year Alitalia will not need a capital increase, as for next year we'll see. What is important to understand is that the operating value of Alitalia's activities is far greater that what would appear on its balance sheet," Roberto Colaninno, Chairman. Source: ANSA, 27-Apr-2010.

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