Alitalia Reaches Agreement for Slot Exchange at London’s Heathrow

Alitalia announced that agreement has been reached for the exchange of three pairs of slots at London’s Heathrow airport. These slots are considered non strategic in the Company’s 2008-2010 business plan since the Company holds a further ten pairs of slots at Heathrow.

The completion of the exchange will take place in two stages, corresponding to the IATA 2008-09 operative seasons.

The first stage has provided Alitalia with a fee of 54 million euros at the current exchange rate at the time of the operation, to be included on the 2007 balance sheet. The fee for completion of the second stage will be included on the 2008 balance sheet. Using the same exchange rate parameters, the figure is estimated at 38 million euros.