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Alitalia to hold emergency board meeting

Posted on Apr 03 2008 4:12 AM by Asif

Filed Under: Europe ,

Alitalia's board will hold an emergency meeting as Italy's national carrier edges closer to bankruptcy after Air France-KLM broke off talks to buy it. The meeting will be held later Thursday. Italy's Stock Exchange says it suspended the company's shares after Air France-KLM quit talks with Italian unions and Alitalia's chairman Maurizio Prato resigned. The Franco-Dutch carrier had said new proposals by unions would not allow it to quickly return Alitalia to profitability. Air France-KLM's offer values the airline at $216 million and is conditional on union approval.

Tags: Europe ,

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