Italian parliament votes to extend Alitalia sale period
Italy's senate voted Wednesday in favour of a decree that extends the timeframe for the Alitalia sale process. There were 264 votes in favour, 14 abstentions and no votes against the decree on its second reading. It moves the deadline – last set at April 30 – to Oct 31, and renews until Dec 15 the term of a E900m (US$1.04b) loan provided to Alitalia. During the session, the Five Star Movement's senate spokesperson highlighted a E160m loss accrued by Alitalia and said the carrier's cash balance was "insufficient" to guarantee repayment of the loan and interest. "Time to avert bankruptcy is tight. Buyers need to be properly chosen so as not to disperse a strategic asset," he adds. An amendment to the decree specifies that Alitalia's commissioners must make regular reports to the senate on the carrier's "economic and financial situation". <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-05-31/sky/italian-parliament-votes-to-extend-alitalia-sale-period
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Italian parliament votes to extend Alitalia sale period
Italy's senate voted Wednesday in favour of a decree that extends the timeframe for the Alitalia sale process. There were 264 votes in favour, 14 abstentions and no votes against the decree on its second reading. It moves the deadline – last set at April 30 – to Oct 31, and renews until Dec 15 the term of a E900m (US$1.04b) loan provided to Alitalia. During the session, the Five Star Movement's senate spokesperson highlighted a E160m loss accrued by Alitalia and said the carrier's cash balance was "insufficient" to guarantee repayment of the loan and interest. "Time to avert bankruptcy is tight. Buyers need to be properly chosen so as not to disperse a strategic asset," he adds. An amendment to the decree specifies that Alitalia's commissioners must make regular reports to the senate on the carrier's "economic and financial situation". <br/>
