Home World Business Bankrupt Alitalia had debts of $4.4 billion at end of February, government

Bankrupt Alitalia had debts of $4.4 billion at end of February, government

SHARE

Milan: Loss-making airline Alitalia, which asked to be put under special administration on Tuesday, had debts of around 3 billion euros ($A4.45 billion) as of February 28, Italy’s government said.

In a document marking the opening of the special administration process and the appointment of three commissioners that will run the airline from now on, the government said on Saturday Alitalia had current liabilities of around 2.3 billion euros ($A3.4b) and assets worth 921 million.

Alitalia in heavy debt. Alitalia in heavy debt. Photo: Alamy

Alitalia, 49 percent owned by Etihad Airways, has filed to be put under special administration for the second time in less than a decade after workers rejected its latest rescue plan, starting a process that will lead to the carrier being overhauled, sold off or wound up.

Reuters

LEAVE A REPLY

Please enter your comment!
Please enter your name here