ROME (AFX) - Alitalia SpA said its estimated net losses for 2006 were 380 mln eur, twice as high as the year before.
The airline made the announcement in order to meet a deadline set by the stock exchange authority Consob to outline its financial situation and its industrial strategy, a day before a deadline expires for potential buyers to come forward.
In its report to the stock exchange authority, Alitalia also said that its plan to slash costs for 2005-2008 was not achievable 'at the current stage'.
The Italian government, which holds a 49.9 pct stake in the stricken airline, is seeking to privatize Alitalia, and bids have to be presented by Monday.
The economic daily Il Sole 24 Ore said three preliminary offers were expected to be made by 6:00 pm Monday.
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