Deals
Alitalia’s Higher Loss Risks Deterring Air France Investment
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Alitalia SpA’s crisis deepened as its deficit rose and reserves shrank, forcing the board to seek fresh capital and potentially souring Air France-KLM Group’s appetite to lift its stake and support the Italian partner.
Board members for the Italian flag carrier are seeking at least 100 million euros ($135 million) in fresh capital after the first-half net loss swelled 46 percent to 294 million euros, the Rome-based carrier said in a statement yesterday. Liquidity reserves that include credit lines fell to 128 million euros from 159 million euros at the end of the first quarter.