Alitalia faces estimated cash shortfall of €400 million
At a board meeting yesterday, Air France-KLM postponed a decision on providing more assistance to struggling Alitalia, in which it owns a 25% stake. The reason? It needs more information about the Italian carrier’s finances.
The decision came hours after the Italian government invited Air France-KLM to double its stake and take control of the airline.
“The board considered it vital to hear the information that Alitalia’s executive management should provide at a forthcoming meeting of the Italian company’s board of directors,” Air France-KLM said in a statement.
This meeting of the Alitalia board is scheduled for Thursday. According to some estimates, Alitalia faces a cash shortfall of €400 million.