A complicated rescue plan

In Italy the banking group Banca Intesa Sanpaolo has worked out a rescue plan for the ailing Italian airline Alitalia. The daily Corriere della Sera criticises the plan, which it says "apparently has moved even members of the government to reconsider the bid of [French airline] Air France which was haughtily rejected four years ago. In addition to costing taxpayers a billion euros [the problem with the plan is that] it would call for the competition rules to be disregarded, and this would set a dangerous precedent. ... In 2004 Brussels provided Alitalia with new funding on the condition that the money was not to be used to extend its market share. This is precisely what is happening now. ... Air France's offer [by contrast] would not cause problems with Brussels and would not cost anything apart from a small amount in compensation for surplus employees."

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