Alitalia Gets $677 Million Lifeline to Pull Carrier From Brink

Alitalia SpA secured a 500 million-euro ($677 million) rescue package from shareholders, banks and the state-owned postal service to avert a collapse of the airline that’s losing more than 1.5 million euros a day.

Board members backed a plan to raise 300 million euros by offering new shares to existing shareholders, the Rome-based company said. Air France-KLM Group, the biggest investor with a 25 percent stake, said its representatives agreed to support the measure to “enable continued operations at Alitalia.”