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Old 5th May 2004, 13:05
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Thunderbug
 
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Thumbs down Alitalia Shares Suspended (Wed 5th May)

BBC News

Shares and bonds of Alitalia have been suspended, the Italian stock exchange has announced.

The Italian carrier's ordinary shares, as well as a convertible bond issued by the airline, will remain suspended until the outcome of an Alitalia board meeting scheduled for tomorrow (Thursday), a spokeswoman for the exchange said.

Alitalia shares slipped 12.5% this week in heavy trading after reports that a senior manager had warned the company could seek to be declared insolvent as early as this week if unions do not agree to a restructuring plan.

The Italian government, which owns a majority stake in the airline, has not indicated whether it intends to intervene to aid the company or what form of state assistance might be given
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