Alitalia Starts Bankruptcy Process as Etihad Cuts Off Funds
- Gulf carrier says Alitalia requires ‘far-reaching’ fixes
- Italy said to provide bridge loan to maintain operations
Alitalia to Start Bankruptcy Process
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Alitalia SpA started bankruptcy proceedings for the second time in a decade, throwing the survival of Italy’s flag carrier in doubt after the airline failed to fend off budget rivals.
Shareholders voted unanimously to file for insolvency administration, the airline said in a statement on Tuesday.