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Alitalia to propose capital hike of up to 250 mln euros-source
July 24, 2014 / 6:17 PM / 3 years ago

Alitalia to propose capital hike of up to 250 mln euros-source

ROME, July 24 (Reuters) - The board of Italy’s flagship airline Alitalia will propose to shareholders a capital increase of as much as 250 million euros ($336.68 million), a source with knowledge of document said on Thursday after a meeting of the airline’s board.

“The board prepared a document for the shareholders meeting in which they are asked to approve a capital increase of 200 to 250 million euros,” the source said.

Alitalia shareholders are to meet on Friday. Abu Dhabi’s state-owned Etihad Airways has plans to buy a 49-percent-stake in the loss-making airline if it can meet certain conditions.

The share issue, which sources said on Monday would be worth 200 million euros, is intended to cover any losses Alitalia is likely to make before a deal with Etihad is finalised, and to pay for any past liabilities. ($1 = 0.7426 Euros) (Reporting by Alberto Sisto, writing by Steve Scherer)

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