Tuesday, February 19, 2013
Trial Ordered In Bankruptcy Of Former Alitalia
Wed., February 20, 2013
A judge in Rome has ordered trial for seven former officials in the bankruptcy of Alitalia several years ago when it was still a state-run airline, the Associated Press reported. The present Alitalia began flying in 2009 as a new company owned by a group of Italian investors. The airline's 62 years as a state-run company ended in bankruptcy in 2008. Consumer advocate group Codacons said Tuesday's indictments will allow shareholders of the old Alitalia to seek damages as part of the trial set to begin on June 18. Prosecutors allege that former executives of the old Alitalia cause billions of euros (dollars) in losses from 2001 to 2007, basically through poor management.