Air France will present proposals for a debt restructuring of Alitalia. This was reported by the Bloomberg agency quoting the French economic newspaper Les Echos, according to which Air France believes that Alitalia's financial needs are not colossal.
"To limit the risks, Air France-Klm would be ready to participate in a recapitalization of Alitalia and to buy the shares that find no buyers, in order to ensure control of the company but without exceeding the 50% threshold, in order not to having to consolidate Alitalia's debt,” he says Les Echos citing some sources, according to which the proposal would be accompanied by precise conditions in terms of debt restructuring. It would not be a question of canceling the debt but of making it more bearable.
Out of the 1,1 billion euro of debt, two thirds are linked to the purchase of aircraft and – highlights Les Echos – could be renegotiated on more favorable terms in the context of an integration within Air France-KLM. Such a revision will imply the revision of the agreements concluded in 2008 with Carlo Toto's company AP Fleet, based in Ireland, which has become the largest supplier of Alitalia aircraft.
