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Alitalia seeks capital increase of $135 million

September 26, 2013

ROME (AP) — Struggling Italian airline Alitalia is asking shareholders to approve a capital increase of at least 100 million euros ($135 million).

Alitalia said an extraordinary shareholders meeting on Oct. 14 will deliberate the capital increase, approved by the board at a meeting Thursday in Rome.

News reports say Air France is considering boosting its stake in Alitalia. Economic Development Minister Flavio Zanonato indicated in an interview with Il Sole 24 Ore business daily he prefers banks to rescue Alitalia.

But Italian Transport Minister Maurizio Lupi was quoted as saying in Paris on Thursday his government might OK Air France’s gaining control of Alitalia if Italian routes and Alitalia workers don’t suffer. Alitalia, long a state-run company, was taken over by Italian investors in 2009, after Rome rejected an Air France bid.

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