Alitalia says cannot confirm or deny reported 400 mln eur FY net loss |
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Sun, 21 Jan 2007 16:59
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MILAN (AFX) - Alitalia SpA said it cannot confirm or deny recent reports that its full-year 2006 net loss will be 400 mln eur, against the 168 mln it lost in 2005.In its third-quarter results statement, Alitalia forecast a full-year net loss higher than 2005 and higher than the first half's loss of 221 mln eur.'In relation to report of a net loss of 400 mln eur, at this point, it is not possible to deny nor confirm the forecast,' it said.The reports of a full-year loss appear to be projections based on the nine-month pretax loss of 275.4 mln eur, it said.In the statement, issued at market regulator Consob's request, the airline said it will release details of sales of non-strategic and real estate assets when these deals are finalised.Alitalia expects to complete its budget for 2007 by the end of Jan, and will help it to determine whether it has sufficient funds to continue its operations for 12 months.In the longer term, 2007-2009 business plan cannot be updated because of the government's plan to sell a 30 pct stake in Alitalia and because it does not have enough directors, it said.Last week, Alitalia said it will hold a shareholder meeting on Feb 22 to appoint a new board. Separately, it said it had sufficient funds to operate until the autumn.Bidders have until Jan 29 to express an interest in acquiring the 30 pct stake in Alitalia from the government.nigel.tutt@thomson.comnt/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Alitalia's 2006 net loss steeper than expected - report 