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Alitalia´s Future Is ´Continuing The Business´
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A plan for Alitalia´s future is not being constructed around a bankruptcy or by putting debts into a separate entity, Chairman Aristide Police said.
Intesa Sanpaolo is working on a rescue strategy for the ailing airline, which ultimately failed to find a buyer when it was put up for sale by the government 18 months ago.
Newspapers have suggested Intesa Sanpaolo´s plan might call for a change to one of Italy´s bankruptcy laws or putting Alitalia´s debts into a separate "bad company" and bringing investment into the operational activities.
On Thursday, Transport Minister Altero Matteoli said it was too early to talk of changes to financial failure laws in the case of Alitalia, before Intesa Sanpaolo had presented its plan.
"I stand by the statement of the minister who spoke of a solution around continuing the business," Police told journalists on the sidelines of a conference.
Industry Minister Claudio Scajola said on Wednesday the law would be changed to adapt to the situation of "some big companies in crisis," but Matteoli said the government was in agreement to wait until Intesa Sanpaolo had completed its work.
Intesa Sanpaolo is due to complete its plan by early next month for the national airline, which is losing over a million euros a day.
Its shares have been suspended from trading for over a month.
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