Alitalia fails to post annual accounts

27th May 2008

Alitalia has postponed the release of its annual accounts until further notice. The board was set to approve the accounts for 2007, but adjourned the meeting without doing so.

The Italian government recently lent the airline 300m euro, in a bid to save it from collapsing. But this prompted European Commission fears that the move broke state aid rules. These regulations prevent EU governments from subsidising struggling firms, except under exceptional circumstances, as this could give them an unfair advantage over competitors.

The board met on Monday and was expected to give its approval to the annual accounts.

If the EU decides that the recent loan constitutes state aid the firm could go to court.
The airline has had a choppy ride over the past few years and has recently flirted with bankruptcy.


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