ITALY - Synergo Sgr buys 40% of Air Italy

Gianfilippo Cuneo's firm Synergo Sgr has recently agreed to invest an undisclosed amount of capital in return for a 40% stake in troubled low-cost airline Air Italy. The consideration has not been disclosed. The growth plan will see the expansion of the long-haul flights with the addition of flights to Mexico, Egypt, USA and other European destinations, as well as the purchase of new aircrafts.