ROME—Alitalia SpA’s potential investors pledged to pump more than €1 billion into Italy’s state-owned airline as part of a plan to break up the carrier and save it from insolvency, Il Sole 24 Ore reported, without saying where it got the information.

Piaggio & C. SpA chairman Roberto Colaninno will lead a group of as many as 15 Italian businessmen who plan to inject cash into the carrier, Il Sole said. Colaninno agreed at a meeting in Milan Monday to invest about €200 million in Alitalia and become its chairman, the newspaper said.

Intesa Sanpaolo SpA, which is advising the Italian government on a plan to sell the unprofitable airline, hosted a three-hour meeting with potential investors, including Air One SpA founder Carlo Toto, Fausto Marchionni, chief executive officer of insurer Fondiaria-SAI SpA, and Giovanni Castellucci, CEO of highway operator Atlantia SpA.

The government may declare the airline insolvent this week before agreeing to sell the operating parts of the company to the investor group, Il Sole said. The investors are also seeking guarantees that they’ll be able to renegotiate labor contracts, Il Sole said. (Bloomberg)

BOC may get P1.5 billion more from imported oil

THE Bureau of Customs (BOC) expects to collect more from oil imports after it discovered discrepancies in its numbers compared with those of other government agencies.

PPA will transfer Batangas Port access road to DPWH

PHILIPPINE Ports Authority (PPA) is set to transfer the maintenance and operation of the Japan-funded access road leading to Batangas Port to another agency by next year.

Business jet crashes last year show rise of rule-breaking, unlicensed brokers

The Bombardier Challenger CL-600 chartered jet carrying employees of New York-based private equity firm Kelso & Co. was barreling down the runway of New Jersey’s Teterboro Airport at almost 127 miles per hour en route to Chicago when the plane failed to lift off.

Investors pledge €1B for Alitalia

ROME—Alitalia SpA’s potential investors pledged to pump more than €1 billion into Italy’s state-owned airline as part of a plan to break up the carrier and save it from insolvency, Il Sole 24 Ore reported, without saying where it got the information.