Air France-KLM has written off the value of its 25 percent stake in Italy’s financially-troubled Alitalia.<br /><br />In its latest results, the Franco-Dutch firm said it was taking a charge of 119 million euros against profits to cover that. <br /><br />It also said it was only willing to invest further in the struggling Italian carrier under very strict conditions involving its medium- and long-haul networks and a very strong financial restructuring. <br /><br />Alitalia – which is facing tough competition and has been losing money for over a decade – wants its shareholders to put up 300 million euros in emergency cash so it can keep operating and avoid bankruptcy.
