Keeping Alitalia Afloat | 900 Million Euro Bridge Loan Converted

ROME: Italy’s last council of ministers have approved a new decree law with 11 new rules presented by the Minister of Economic Development, Luigi Di Maio. Among these, at the last minute, is the regulation allowing for the conversion of part of a bridge loan of 900 million euros granted to Alitalia airline in May 2017  into equity, and, therefore, into a share package (about 15%) of the new company that will be presented by Italia Railways.

In short, the go-ahead for the Treasury to become a shareholder of the new Alitalia in a scheme is official, but all has yet to be defined. At the same time, in fact, an okay was given to the extension of another month (from March 31 to April 30) to FS for the presentation of an industrial plan to the extraordinary commissioners.

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