ROME (AP) -- Italy's Economic Development Ministry says the government has approved the sale of assets in the bankrupt Alitalia airline to a group of Italian investors for at least euro1.052 billion ($1.33 billion).
The move on Wednesday clears the way for Alitalia's administrator Augusto Fantozzi to sign a final deal with CAI Compagnia Aerea Italiana (Italian Air Company). The new airline is to launch by early December.
The ministry said in a statement that they asked CAI to raise their original euro1 billion ($1.26 billion) bid by euro52 million ($65.7 million).
CAI is still looking for a foreign carrier to take on a minority stake.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.