Air France - KLM may seek minority stake in Alitalia
02 September 2008
Air France-KLM may buy a minority stake varying between 20 and 25 per cent in beleaguered Italian flag-carrier Alitalia.
This was reported by the Dow Jones, citing a report in the Italian newspaper Il Corriere della Sera, which said that the development could take place by next week.
The Italian newspaper also said in its report that Morgan Stanley is evaluating an investment of up to $73.2 million in Alitalia along with a consortium of Italian investors.
British Airways was also reported by the UK media to be mulling a stake in the Italian airline.
Alitalia had filed for bankruptcy protection from last week, and the Italian government had appointed law professor and former minister Augusto Fantozzi to restructure the company and sell assets.
Fantozzi would be in charge of liquidating Alitalia's liabilities, along with the $1.8 billion debt that the airline has accumulated over time.