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Alitalia extends cap hike deadline to November 27

Scale models of Alitalia airplanes are displayed at a shop selling models of vehicles in Rome October 31, 2013. REUTERS/Alessandro Bianchi
Scale models of Alitalia airplanes are displayed at a shop selling models of vehicles in Rome October 31, 2013. REUTERS/Alessandro Bianchi

MILAN (Reuters) - Italian airline Alitalia said on Wednesday it had extended a Friday deadline for shareholders to subscribe to a 300 million euro ($402 million) capital increase to November 27, giving top shareholder Air France-KLM more time to sign up.

The company also said that as part of a revised business plan it would cut the number of its medium-range aircraft, but maintain the number of hours flown through a better use of its fleet.

It will also increase the number of its international and intercontinental flights, it said in a statement, as it seeks to boost revenues by focusing on the more lucrative long-haul market.

(Reporting by Alberto Sisto and Agnieszka Flak; Editing by Andrew Heavens)

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