Meridiana could be 'white knight' for struggling Alitalia: report

0 Comments | AFP, December, 2006

MILAN (AFP) — Meridiana, Italy's third-biggest airline, may be the "white knight" the struggling flag carrier Alitalia is looking for. Owned by Prince Karim Aga Khan, Meridiana specializes in flights to Sardinia. The group bought a 15-percent share in the Florence airport in September, and is about to buy a 29.9-percent stake in the charter company Eurofly.

"With a bigger group and especially with a stock market listing, Meridiana could come along as a white knight for Alitalia," the economic daily Il Sole 24 Ore reported Thursday. Alitalia has logged 3.1 billion euros (four billion dollars) in losses since 1996, according to the Italian economy ministry, and the company expects 2006 losses to exceed those of 2005, at 167 million euros. The government, which currently owns...

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