Justice minister, DGA chief discuss partnership to boost digital judicial services    Netanyahu does not rule out further strikes on Hamas leaders    US farmers are being squeezed – and it's testing their deep loyalty to Trump    Romania condemns 'irresponsible' Moscow after Russian drone breaches its airspace    Kirk's assassination is forcing US politicians to make difficult choices about their safety    India players refused handshakes, says Pakistan coach    Final stage of Spanish Vuelta cycling race abandoned after disruption by pro-Palestine protesters    Mané fires Al Nassr past Al Kholood to keep perfect start as Ronaldo honored    Lacazette brace earns NEOM SC first Saudi Pro League win    Adolescence star Owen Cooper makes Emmys history at 15    Saudi liquidity grows 8.4%, reaching SR3.1 trillion in July 2025    Over 434,000 people acquire first aid skills during nationwide health campaign    Saudi Arabia's legislative advancement highlighted at International Conference on Judicial Training    Sudden swerving among 3 major causes of accidents in Riyadh in 2024    Princess Haifa emphasizes pivotal Saudi role in shaping future of tourism    Sahm Capital names Saudi Olympian Fayik Abdi as brand ambassador    SR9000 fine for copyright infringement using AI    King Charles and Prince Harry finally reunite after 19 months apart    Anastacia: Arnold Schwarzenegger made me sing Whatta Man 12 times    Thousands pay their last respects to Giorgio Armani, private funeral on Monday    The key to happiness    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Bankrupt Alitalia hangs out ‘for sale' sign again
Published in The Saudi Gazette on 24 - 09 - 2008


Alitalia has hung out a “For Sale” sign - again.
The bankrupt airline published a notice in four newspapers on Tuesday soliciting offers to buy any or all of the company's assets. The move comes after a group of Italian investors made official on Monday its decision to withdraw its offer to take over the profitable assets of Alitalia.
It was the third failed attempt to sell off the long-troubled airline in less than two years as Italy struggles to keep a four-year-old pledge to the EU to privatize the flagship carrier.
Alitalia is seeking “whoever might be able to guarantee the continuity, in the medium term, of the transportation service ... to submit its expression of interest,” read the notice published in the Italian newspapers Corriere della Sera, il Sole-24 Ore and la Repubblica, as well as the London-based Financial Times.
The notice, initially posted Monday evening on the airline's Web site, urges potential buyers to take into account the need for a speedy transaction.
With Alitalia's future still unclear, Premier Silvio Berlusconi delayed his departure to New York for the UN General Assembly, where is he scheduled to speak on Thursday. It was unclear when he would leave.
Meanwhile, the first report of a creditor moving to seize assets from Alitalia was confirmed. The Israel Aiports Authority has an application pending with a court in Tel Aviv to recover $500,000 owed by Alitalia, a spokesman said Tuesday.
Barring a valid offer, Alitalia's extraordinary administrator - appointed after the airline declared bankruptcy Aug. 29 - said Alitalia's clock would stop ticking Oct. 1. Italian civil aviation authorities have indicated the end might come even sooner.
“I would say that we have until the end of the week,” administrator Augusto Fantozzi told reporters in Rome on Monday. “Probably we will have time until next Tuesday, which means in effect that, as of today, Sept. 30 is the last day possible” of operation.


Clic here to read the story from its source.