Air France-KLM bid for Alitalia accepted
ROME – Debt-stricken Alitalia has agreed a takeover by Air France-KLM valuing the Italian state carrier at about
US$100 million.
The airline, which has lost more than three billion euros since 2000, had warned it could be forced to stop trading by the summer.
Air France has a three year recovery plan for Alitalia, aiming to return the airline to profit by next year.
Air France-KLM have agreed to pay 139 million euros for Alitalia and is expected to look for more than 1,500 job cuts as part of the restructuring plan. Air Fance-KLM propose underwriting a capital increase of one billion euros to fund the commercial relaunch of Alitalia.
The deal for Alitalia is hoped to be completed by the end of the first half of this year.
It calls for a network organised around the Rome-Fiumicino hub with selected long haul destinations also served from Milan.
by Phil Davies
Ian Jarrett
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025