Alitalia is set to hold preliminary talks with Russia's Aeroflot in Moscow this week, Italian newswire AGI has reported. Quoting unnamed sources reportedly close to the talks, AGI says the cash-strapped Italian national carrier is now actively looking for a "strong international partner" following uncorroborated reports in Italian daily, il Sole 24 Ore, that 25% shareholder, Air France-KLM, have set stringent conditions for their participation in the airline's proposed EUR300million capital injection drive.
Among the demands are: shrinking its medium-haul network, stabilizing its long-haul routes, the removal of Alitalia's board of directors and a restructuring of its near EUR1billion (USD1.35billion) in debts to reduce them by 70 to 80 percent. Shareholders have until mid-month to decide on whether or not they will participate in the injection drive.
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