Air France is willing to grow in Alitalia through the contribution of fresh resources to the benefit of the company and therefore not with operations that are reduced to the liquidation of the shares of the Italian shareholders. Radiocor writes it quoting sources from the French company.
During the Alitalia board meeting which took place yesterday in Milan, the CFO of Air France-KLM Philippe Calavia underlined that the Franco-Dutch group does not want to be considered a threat to the Italian company, of which it is the first partner with the 25%, and said he was sorry for the press rumors about drastic cuts, which he called "lies".
The French directors voted against the 100 million euro capital increase approved by the Board of Directors last September 26 – deemed insufficient -, but this does not imply that the Franco-Dutch company does not intend to participate in the operation. Indeed, the impression given on the board is that the French shareholder can play his part.
Some Italian shareholders could increase their share during the recapitalization and help on unopted shares could come from the banks. The board will return to discuss this and other aspects related to Alitalia's financial plan on Tuesday 8 October. Meanwhile, a new meeting with the Government will take place on Monday 7. Alitalia's hope is that the Executive will facilitate greater flexibility in debt management with suppliers, including Eni (the main creditor
