Air France-KLM takes a stake in Alitalia

Israel News.Net
Monday 12th January, 2009

Air France-KLM has taken a 25 percent stake in Italy's Alitalia airline.

The European airline giant paid 320 million euros for a minority share in the company.

In 2007, Air France-KLM attempted to take complete control of Alitalia when the company was on the point of declaring bankruptcy but Italian unions prevented the deal going through.

According to Alitalia's special administrator, Alitalia's board of directors has voted in favour of the Air France-KLM agreement.

Alitalia was almost bankrupt last year before being bailed out by a group of private Italian investors.

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