Rome : Air France-KLM's bid for Alitalia includes a share swap and a capital hike of 750 million euros ($1.09 billion), with up to 1,700 job cuts, Air France's chairman Jean-Cyril Spinetta was quoted as saying.
Several Italian newspapers reported in yesterday's editions that Spinetta, speaking to Italian reporters in Paris, also said Air France would buy back Alitalia's maturing bonds and renew its fleet, with two or three new aircraft each year. "We have proposed to Alitalia a share swap, which means that Alitalia will become fully part of the holding with Air France and KLM," Spinetta was said.
The share swap would allow the Italian Treasury, which is selling its 49.9 per cent stake in Alitalia, to keep a minority stake in the new group. |
