| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/05/57 (19.1.05) |
| Publication Date | 19/01/2005 |
| Content Type | News |
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The Commission decided on 19 January 2005 to start a detailed analysis of the recapitalisation of Alitalia. The analysis, which it wants to be done quickly, concerns the proposed €1.2 billion recapitalisation of Alitalia's air transport business (AZ Fly), in particular the guarantee regarding the share underwritten by the market. The €220 million takeover of its ground services (AZ Services) by the public holding company Fintecna was also planned to be examined. The aim was to check that these two operations complied with the principle of a prudent investor operating in a market economy and that the commercial ties between the two companies were in order. Under the 'one time, last time' principle, Alitalia was not able to claim further restructuring aid since it had received such aid in 1996-1997. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/57&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Internal Markets |
| Countries / Regions | Italy |
