Italy postpones deadline for Alitalia rescue plan to October 15

MILAN (Reuters) – Italy’s trade ministry stated on Monday it had postponed a deadline to current a rescue plan for Alitalia to Oct. 15, with sources saying the rescuers have been at odds on key features of the proposal for the loss-making provider.

Italian state-owned railway group Ferrovie dello Stato, U.S. airline Delta (DAL.N) and infrastructure group Atlantia (ATL.MI) have been discussing the way to revive Alitalia for 2 months and have been anticipated to current a binding proposal by Sept. 15.

The delay, the sixth since Ferrovie expressed its curiosity in investing within the provider, means Alitalia will stay beneath particular administration.

Two sources near the matter informed Reuters the Italian companions within the consortium and Delta didn’t see eye to eye over the event of Alitalia’s routes in North America and the necessity to inject more cash within the provider in the long run.

A potential administration reshuffle at Atlantia might additionally complicate the rescue plan for a provider that has already been via two unsuccessful rescues.

Reporting by Giuseppe Fonte and Francesca Landini, enhancing by Stephen Jewkes and Deepa Babington

Author: Maxwell C.

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