Auditor Approves Alitalia 2006 Accounts
Xinhua | Jun. 12, 2007
On June 12, Italian carrier Alitalia was given a small lift when auditor Deloitte & Touche approved its 2006 accounts.
Alitalia shares rose 1.70 percent after the company, which is in the middle of a sale process, said Deloitte had certified the conformity of its accounts with International Financial Reporting Standards, local media reported.
Alitalia announced a first-quarter net loss of EUR135 million compared to EUR159 million in the first quarter of 2006 and said it had sufficient cash to continue operating for another 12 months.
It said it expected to end 2007 with a better operating result than the previous year but could not make any forecasts for 2008 because of the privatization process under way.
Local media reports speculated that Alitalia's auditor might not approve the books because the airline's future is not assured.
The Treasury, which owns 49.9 percent of Alitalia, has put the carrier up for sale and binding offers must be presented by July 2.
Only two suitors remain in the bidding: the AP Holding group of Carlo Toto, the chief of Italy's number two airline AirOne, and state-owned Russian carrier Aeroflot.