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Alitalia's board approves revised business plan, cap hike delay

An Alitalia plane approaches to land at Fiumicino international airport in Rome October 14, 2013. REUTERS/Max Rossi
An Alitalia plane approaches to land at Fiumicino international airport in Rome October 14, 2013. REUTERS/Max Rossi

ROME (Reuters) - The board of Italian airline Alitalia has approved a revised industrial plan, meant to help make the cash-strapped carrier more profitable, Deputy Chairman Salvatore Mancuso said on Wednesday.

Details of the new plan were not immediately clear, but sources said before the board meeting held on Wednesday that proposals that were under discussion included cuts of up to 2,000 jobs and salary reductions.

The board also approved an extension of a Friday deadline for shareholders to subscribe to a 300 million euro ($402 million) capital increase, another board member added. The extension was partially meant to give top shareholder Air France-KLM more time to sign up to the cash call.

($1 = 0.7460 euros)

(Reporting by Alberto Sisto; Writing by Agnieszka Flak, editing by Isla Binnie)

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