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MILAN, Italy (AP) - Troubled airline Alitalia SPA said Monday it would move ahead with a plan to raise 1.2 billion euros ($1.4 billion) in equity from banks, but did not disclose whether it had secured firm backing from its lenders.
The Rome-based carrier, however, delayed a decision on the terms and conditions of the long-awaited capital increase until a board meeting Thursday.
Banks have been trying to work out a deal with Alitalia over the recapitalization, which aims to cut the Italian Treasury's stake in the airline to below 50 percent from 62 percent, in line with European Union requirements.
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