Alitalia To Submit Authorization To Raise Capital By EUR 300 Mln

(RTTNews) - Alitalia's board has decided to submit to its next general assembly of shareholders an authorization to increase its capital by 300 million euros. The directors appointed by Franco-Dutch airline Air France - KLM's (AFLYY.PK, AFRAF.PK) have approved this emergency plan to enable continued operations at Alitalia.

The board voted on the measures a day after Alitalia sought help from the government to convince shareholders and creditors to put up more money for an airline that has failed to make a profit since coming out of bankruptcy five years back, according to the Wall Street Journal.