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Air France-KLM to inject 750m euros into Alitalia
Air France-KLM is to relaunch Alitalia with a capital injection of at least 750 million euros.
The French-Dutch airline combine is to acquire 100% of the shares of the Italian carrier through an exchange offer.
The enlarged group will be able to rely on three strong, complementary brands providing customers with an “unparalleled” network.
A large part of the investment will be used to support a huge relaunch program with cabin reconfiguration at the top of in-flight products (seats, interior design, entertainment) and ground services.
This is aimed at restoring Alitalia’s international image as a major airline and to convey the Italian flag and values all over the world, according to Air France-KLM.
“As the world’s leading airline group, with a strong commercial position in most regions, Air France-KLM will support Alitalia in restoring and recovering its natural position and market share,” a statement said.
“In addition, Alitalia’s fleet renewal is Air France-KLM’s top priority and the Group has assessed that it will proceed with the full renewal of the MD80 short/medium-haul fleet and the B767 long-haul fleet.
“After the recovery phase, further investments will ensure the growth of the fleet, and enable Alitalia to expand its network from a healthy position.
“Air France-KLM’s Recovery and Relaunch Plan will not add any more redundancies to Alitalia’s current plan.”
by Phil Davies
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