Alitalia set for transfer to new owner

Omaha News.Net
Thursday 20th November, 2008

The Italian airline, Alitalia, still needs to satisfy the government before the sale to an Italian business group can be completed.

The Italian Industry Ministry will first have to accept the deal that was put together by the government-appointed administrator.

Investment company, Compagnia Aerea Italiana, has offered $1.24 billion for the airline.

Alitalia has been struggling to find a buyer after its debts reached $1.71 billion in November last year.

The Italian government loaned the airline $477 million to keep it afloat in April after Air France-KLM walked away from negotiations.

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