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Alitalia is confident it can avoid collapse

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Alitalia is confident it can avoid collapse
Photo: Arpinstone/Twitter
17:38 CET+01:00
Debt-laden Italian flag carrier Alitalia said on Thursday it was confident it would raise enough cash by a December 8th deadline to avoid collapse, despite falling short of the desired-for capital increase.

The troubled company, which is searching for a foreign partner to rescue it, said a capital increase aimed at raising up to €300 million had attracted €173 million shareholders so far.

The interest shown "should be confirmed in the coming days and at the latest by December 10th," Alitalia said in a statement, adding: "There are still the conditions for the capital increase to be completely allocated".

Alitalia has so far failed to convince its main shareholder Air France-KLM, which holds a 25 percent stake, to take part in the rescue, raising concern about the company's survival.

The Italian government has said the state postal service has undertaken to contribute 75 million euros and has denied that this constitutes state aid.

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