ALITALIA AID
July 1st, 2004
BY KEITH NUTHALLAN EMERGENCY cash injection of Euro 400 million for Alitalia paid by the Italian government has been approved by the European Commission, although it could prove a short-term stay of execution for the ailing airline. The bridging loan - with short term market interest rates - must be repaid within a year, furthermore, Italy has promised Brussels it will produce a restructuring or liquidation plan for Alitalia within six months. The Commission said the loan followed its "one-time-last-time" policy for national rescue aid, adding it was concerned ...
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