The Alitalia board on Saturday unanimously agreed to accept an offer by Air France KLM to acquire control of the ailing Italian carrier–subject, however, to a number of what the parties call “effectiveness conditions” that must be fulfilled by March 31.
… “The board has carried out its evaluation of the binding offer also in light of the worsened airline sector and macro-economic scenario, as well as considering the critical situation of the company and available alternatives,” AZ said in a statement, noting that the proposal offers “the appropriate solution” to preserve its assets and to promote both rapid and stable restructuring and long-term development.