"Phoenix Project" fails to resurrect Italian airline

10/21/2013 | Economist (tiered subscription model), The

Italian airline Alitalia has lost more than €1 billion since then-Prime Minister Silvio Berlusconi arranged for local businessmen to take over its assets in an initiative called the Phoenix Project. Now, the airline is seeking another bailout, with the Italian post office likely to spend €75 million into the company as part of a broader €500 million plan.

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Economist (tiered subscription model), The

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