Italy Throws Alitalia $465M Lifeline

Law360, New York (May 29, 2008, 12:00 AM EDT) -- Italy's €300 million ($465 million) emergency loan will help keep Alitalia SpA out of bankruptcy and free of special administration for a year, the Italian government reportedly disclosed on Thursday.

The controversial aid package, announced last month and converted into company capital this week, will help keep the struggling airline from being put under special administration for a limited time, Reuters News reported Thursday, citing a government document.

Italy's recently re-elected prime minister, Silvio Berlusconi, has come under criticism for opting to bail out the national...
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