Air France-KLM takes over Alitalia

AIR France-KLM’s takeover of Alitalia has been approved.

The joint carrier will restructure and re-launch Alitalia, calling for a network organised around Rome-Fiumicino, and around European and selected inter-continental destinations operating from Milan.

The plan is to return Alitalia to profit as early as 2009, and to move operating margins in line with those of other major European airline companies.

Air France-KLM is proposing to acquire 100 per cent of the capital of Alitalia via an exchange offer with a parity of one Air France-KLM share for 160 Alitalia shares, equivalent to 8.7 million Air France-KLM shares for 100 per cent of Alitalia.

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