October 13, 2017 / 12:42 PM / 5 days ago

Italy extends Alitalia bridge loan

(This Oct. 13 story corrects to show deadline is to complete sale, not to submit offers, and is Nov. 5, paragraph 4)

FILE PHOTO - People walk in the Alitalia departure hall during a strike by Italy's national airline Alitalia workers at Fiumicino international airport in Rome, Italy July 24, 2015. REUTERS/Max Rossi

ROME (Reuters) - Italy on Friday extended a bridge loan for airline Alitalia, which is in special administration as state commissioners seek to sell, overhaul or liquidate the carrier.

Italy’s cabinet said in a statement it had passed an emergency decree to add a further 300 million euros ($354.36 million) to the loan of 600 million euros it made to the ailing company in May.

It also extended the deadline for the repayment of the loan, which was due in November this year, to Sept. 30, 2018.

The cabinet headed by Prime Minister Paolo Gentiloni also extended the deadline to complete the sale of the national carrier to April 30, 2018, from a previous deadline of Nov. 5 this year.

Reporting by Francesca Piscioneri; writing by Gavin Jones; editing by Jane Merriman

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