Company Watch - Air France KLM.
Alitalia's long-time commercial partner, Air France, has snubbed the auction, saying it was not interested under current conditions. That has not stopped Italian media from speculating the Dutch-French carrier could still come to the rescue. Analysts say the future of Alitalia, which has a market value of about USD$1.5 billion, could be in jeopardy if the auction collapses. The airline needs another cash injection after writing down its fleet in May, but any attempt by Rome to pump in more money would meet stiff resistance from the European Union and would be unpopular politically. Jul 18, 2007
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|Date:||Jul 23, 2007|
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