March 16, 2020 / 1:06 PM / in 23 days

Italian government to take control of Alitalia: draft decree

FILE PHOTO: An Alitalia Airbus A330-200 airplane is pictured at Leonardo da Vinci-Fiumicino Airport in Rome, Italy, March 30, 2019. REUTERS/Alberto Lingria/File Photo

ROME (Reuters) - The Italian government plans to take control of Alitalia, a draft decree seen by Reuters showed on Monday, as the loss-making carrier risks going belly up due to the impact of the coronavirus outbreak.

The government has earmarked 600 million euros ($670 million) to keep the airline afloat, the draft decree also showed.

On Sunday a source with knowledge of the matter told Reuters Alitalia had nearly run out of cash despite having received 400 million euros from the government at the beginning of this year.

Reporting by Giuseppe Fonte; writing by Francesca Landini

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