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Alitalia seeks €50M additional loan from Italian lenders UniCredit, Intesa Sanpaolo

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(Credit: Reuters) An Alitalia plane is parked on the tarmac at Fiumicino international airport in Rome December 10, 2013.
Alitalia
January 4
10:18 AM 2014

Italy's flag carrier Alitalia SpA has asked banks to extend an existing loan agreement by  €50 million ($68 million). Alitalia's latest move is said to be a sign the troubled airline may again be facing a liquidity crunch just weeks after a capital increase.   

Reuters, citing a report by Italian news daily Il Messaggero, said that Alitalia chief executive Gabriele Del Torchio had written a letter to Italian lenders UniCredit and Intesa Sanpaolo asking for additional financing.

The request comes on top of the €200 million in bank loans already agreed on in October as part of a €500 million government-engineered rescue package. The deal was meant to keep the loss-making carrier in the air as it seeks a new strategic partner that would invest and make it profitable again, the report said.

Alitalia raised €300 million in an emergency capital increase last month. It is currently in talks with Abu Dhabi-based Etihad Airways on a possible investment, Reuters said. 

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