AZ is trying to secure a bridge loan "to support the company's operational activity" but they hit a snag...
...Corrado Passera of Italian bank Banca Intesa stated that the airline first will have to draft a credible recovery plan that will trigger a bridge loan from banks, Reuters reported. "There must be a credible restructuring and relaunch plan, which there hasn't been so far," Passera said. The European Commission Friday said any plans for a bridging loan to the airline will need to be examined by the EC to make sure they are in line with state aid rules... ...Questions also are being raised about other elements of the plan, which include splitting off ground and other services from flight operations.
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