MILAN (AFX) - The state council, Italy's top administrative court, said the government must start organising another auction of the Italian low-cost airline Volare within 60 days, according to the documents of a court ruling made on Sept 29.
In March, the troubled state-controlled airline Alitalia SpA had won the first auction for Volare by offering 38 mln eur.
But the acquisition was suspended by the state council after the Italian airline Air One appealed against a lower court clearing the operation.
Air One argued that Alitalia should not acquire Volare because of the flag carrier's weak financial position and for antitrust reasons.
Volare, which went bankrupt and placed under administration in 2004, was sold by the company's administrator under a deal approved by the industry ministry. philip.webster@afxnews.com pw/jlw COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
