May 7, 2020 / 9:02 AM / 22 days ago

Italy to inject 3 billion euros in new Alitalia: industry minister

FILE PHOTO: An Alitalia Airbus A320-200 airplane approaches to land at Fiumicino airport in Rome, Italy October 24, 2018. REUTERS/Max Rossi

ROME (Reuters) - Italy’s government will inject fresh capital worth at least 3 billion euros ($3.24 billion) in the ailing carrier Alitalia, which is being nationalised following financial problems, Industry Minister Stefano Patuanelli said on Thursday.

Alitalia has endured 11 years of difficult private management and three failed restructuring attempts, problems exacerbated by the coronavirus crisis that has devastated the global airline industry.

Under state control, the carrier “will focus strongly on long-haul routes, also with new transatlantic alliances,” Patuanelli said speaking at the Italian Senate.

The minister added the government would do its best to protect current job levels at the airline.

Reporting by Giuseppe Fonte; editing by Agnieszka Flak

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