Banks to advance 100 mln euros to Alitalia - source

Reuters

ROME (Reuters) - Alitalia's banks have agreed to advance 100 million euros ($135 million) towards the loss-making airline's capital increase to ensure business operations can continue pending the completion of the recapitalisation, a source close to the case said on Friday.

The agreement came as Alitalia's management began a board meeting to approve the planned 300 million euro capital increase which will be backed in part by the Italian post office.

(Writing By James Mackenzie, editing by Danilo Masoni)

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