Alitalia risks bankruptcy if capital isn't increased
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[ROME] Loss-making Italian airline Alitalia risks having to file for bankruptcy if no deal on a proposed capital increase is reached in a couple of weeks, a government source said yesterday.
Alitalia needs about 500 million euros (S$848 million) to keep going and invest in a new turnaround strategy, analysts have said, after accumulating losses of more than one billion euros and debt of a similar size since being privatised in 2009.
Its shareholders will vote on a capital increase of at least 100 million euros on Oct 14 to help keep the company in business.
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