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Alitalia To Submit Authorization To Raise Capital By EUR 300 Mln

10/12/2013 5:43 AM ET

Alitalia's board has decided to submit to its next general assembly of shareholders an authorization to increase its capital by 300 million euros. The directors appointed by Franco-Dutch airline Air France - KLM's (AFLYY.PK,AFRAF.PK) have approved this emergency plan to enable continued operations at Alitalia.

The board voted on the measures a day after Alitalia sought help from the government to convince shareholders and creditors to put up more money for an airline that has failed to make a profit since coming out of bankruptcy five years back, according to the Wall Street Journal.

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by RTT Staff Writer

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