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Italy's postal service steps in with financing for debt-ridden Alitalia
Reported by: Associated Press
Reported: Thursday, October 10, 2013 5:15 PM EDT
Italy's postal service, Poste Italiane SpA, has stepped in to help the debt-ridden national airline Alitalia.
In a statement, the government warned that Alitalia requires a "profound revision" in its industrial plan to guarantee its future.
Terms of the deal weren't disclosed.
Alitalia's 62 years as a state-run company ended in bankruptcy in 2008.
The present Alitalia began flying in 2009 as a new company owned by a group of Italian investors. Currently Air France is the largest shareholder with 25 percent.