Air France-Klm "ha completely devalued the value of its stake in Alitalia” after the decision of the shareholders' meeting of the Italian company to launch a capital increase of 300 million euros. This was announced by the French-Dutch group in its quarterly report.
At the moment, Air France-KLM owns 25% of Alitalia. The decision to cancel participation comes “taking into account the uncertainties affecting the situation” of the Italian company, the report continues. Air France-KLM therefore recorded in the balance sheet its share of Alitalia's losses and a provision for the write-down for a total amount of 202 million euros.
In the third quarter, the French-Dutch company recorded a profit of 144 million euros, down 51,4% year on year. A trend that takes into account restructuring provisions for 216 million linked to the voluntary redundancy plan. It also weighs "a negative amount of 137 million" as a "share in the results and write-down of the residual value of Alitalia shares".
I revenues they are stable at 7,2 billion. Get better instead operating profit, to 634 million euros, up 29%. In the first nine months of the year, Air France-KLM lost 649 million, against the loss of 980 million recorded in the same period of 2012.
The Alitalia board of directors will be held today in Rome.
