Alitalia (2nd) (Rome) according to Reuters, has failed so far to raise the 300 million euros ($407 million) (only 173 million euros received) in its emergency cash call. The flag carrier is now facing stiffer competition as other airlines move in to add new routes from Italy sensing the emergency. Alitalia will need to find a strategic carrier very quickly that is willing to invest in a failing airline and turn it around. So far Etihad Airways (Abu Dhabi), the savior of struggling airlines, has avoided Alitalia.
Air France-KLM, which owns 25 percent, refused to put in any more capital because it stated the rescue plan was not drastic enough to save the airline.
This is the second version of Alitalia, saved once before from the first failing Alitalia. Is there a third?
The Italian drama continues. Read the full report: CLICK HERE
Copyright Photo: Wingnut/AirlinersGallery.com. Airbus A320-216 EI-DTB (msn 3815) taxies at London Heathrow.