Wednesday June 25, 12:24 PM
Alitalia finances have improved via bridge loan - civil aviation regulator
MILAN (Thomson Financial) - Alitalia SpA's financial situation has improved after its recent 300 million euro bridging loan from the government, said civil aviation regulator Enac president, Vito Riggio.
In April, Enac threatened
Alitalia (Milan: AZA.MI - news) with possible suspension of its operating licence if it failed to meet an EU requirement to show it had sufficient liquidity for 12 months.
On Wednesday, Riggio said Alitalia's situation 'seems improved' in comments to reporters after meeting Alitalia chairman Aristide Police.
'With respect to the last time, the bridging loan and the presence of the adviser are two elements that are a guarantee for the more immediate future', he said, referring to the worries earlier this year.
Intesa Sanpaolo SpA (Milan: ISP.MI - news) has been appointed privatisation adviser by the government and the 49.9 percent state-owned airline.
On the 300 million euros bridging loan, Riggio said the loan 'is a clear guarantee' for this year, adding the company's performance is improving and summer season ticket sales are going 'well'.
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