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Joined: Tue Feb 10, 2004 4:54 pm

Alitalia Update

Thu Nov 04, 2004 2:47 pm

As per Reuters, AZ's auditor (Deloitte) cleared their first-half results on Tuesday, meeting a prerequisite for AZ to go ahead with a much-needed capital hike.

The accounts show a loss of EU620M (US$788Million) and Deloitte has advised AZ to push ahead with a capital increase as part of their 4 year recovery plan.

However, even although AZ's accounts have been ratified, the fact that a capital increase has been recommended by their auditor has not done their shareprice anygood. Traders feel the company has not solved any of their problems, is burning cash, and they still fear for the viability of AZ as a going concern.

And they want to order how many new planes?

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