Alitalia saved by the Government and reborn as ITA Airways
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Re: Alitalia near bankruptcy. Can it be saved?
The State of Italy may consider taking a "small" stake in Alitalia, according to Transport Minister Graziano Delrio.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Alitalia gets some 10 non-binding offers
Italian airline has received about ten non-binding offers for the company. The deadline for the company to receive non-binding offers was 6 p.m. (1600 GMT) on Friday, 21 July.
Separately, the company said in a statement that its administrators would inform the industry ministry of the terms of the tender by the end of next week.
A source said that after that, the tender will be open to any other interested parties.
Source: Reuters
Italian airline has received about ten non-binding offers for the company. The deadline for the company to receive non-binding offers was 6 p.m. (1600 GMT) on Friday, 21 July.
Separately, the company said in a statement that its administrators would inform the industry ministry of the terms of the tender by the end of next week.
A source said that after that, the tender will be open to any other interested parties.
Source: Reuters
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
... and Etihad is one of the 10. They really want some return on their initial investment
Alitalia has also received non-binding offers from, among others, Delta Airlines, British Airways, Lufthansa, easyJet, and Ryanair.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
The Holy See ?wrote: so, who will lend them a hand?
Re: Alitalia near bankruptcy. Can it be saved?
Binding offers to buy struggling Italian airline Alitalia have to be submitted by Oct. 2, one of three commissioners appointed by the state to manage the carrier told a national newspaper in a report published on Thursday.
"Monday we will make the tender public, with a request to submit binding offers. This phase will end on Oct. 2," Luigi Gubitosi, said in an interview with la Repubblica.
Gubitosi reiterated that the favoured option was to sell the airline in one block, rather than in separate pieces.
Asked about losses of 2 million euros per day and the low load factors troubling the airline, Gubitosi said the situation had improved and on long-haul flights, the yield - average fare price per distance - had gone up.
Source: The New York Times
"Monday we will make the tender public, with a request to submit binding offers. This phase will end on Oct. 2," Luigi Gubitosi, said in an interview with la Repubblica.
Gubitosi reiterated that the favoured option was to sell the airline in one block, rather than in separate pieces.
Asked about losses of 2 million euros per day and the low load factors troubling the airline, Gubitosi said the situation had improved and on long-haul flights, the yield - average fare price per distance - had gone up.
Source: The New York Times
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Alitalia is to be sold as a whole or with the ground handling unit separated, according to special commissioners, who issued a new invitation to tender that will lead to the sale of the carrier.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Alitalia set a 15 September deadline for EOIs (expressions of interest), with bids to then be shortlisted ahead of a binding offer deadline on 02 October. Final bids will be due 05 November 2017.
André
ex Sabena #26567
ex Sabena #26567
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Re: Alitalia near bankruptcy. Can it be saved?
Rome Airlines indeed...
Re: Alitalia near bankruptcy. Can it be saved?
Alitalia and its Cityliner subsidiary had their full operating licences restored by ENAC.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Greybull Capital (UK), which owns charter company Monarch Airlines, is weighing a surprise bid for parts of Alitalia, including its engineering business and short-haul activities.
http://news.sky.com/story/british-steel ... a-10988654
http://news.sky.com/story/british-steel ... a-10988654
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Alitalia has three major interested buyers – Lufthansa (Germany), Ryanair (Ireland) and EasyJet (UK) – all of which are only looking at purchasing the aviation division of the carrier.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Ryanair will bid to operate 90 planes under the brand of Alitalia and using existing staff as part of the Italian airline’s restructuring. Bids from the 10 interested parties due 02 October 2017. Ryanair is mainly eyeing the long-haul fleet, as a bid for entire Italian carrier would likely be blocked by EU competition regulators.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
That is why Ryanair is opposing the LH-AB take-over at both the Bunderkartellamt and the EU Commission: https://www.aviation24.be/airlines/airberl ... rlin-take/
André
ex Sabena #26567
ex Sabena #26567
- quixoticguide
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Re: Alitalia near bankruptcy. Can it be saved?
Another problem for Alitalia, the pilots are running away.
https://thepointsguy.com/2017/09/buy-al ... ning-away/
said an Airbus A330 captain who has been flying with the airline for almost two decades.Alitalia pilots are required by contract to give a 120-day notice when resigning, which may lead to a surge of exits towards the end of September, or four months since the bankruptcy,
https://thepointsguy.com/2017/09/buy-al ... ning-away/
Visit my flights on: http://www.quixoticguide.com
Re: Alitalia near bankruptcy. Can it be saved?
Alitalia employees are preparing to join up with a non-European carrier and two Italian financial partners to bid for the insolvent airline.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
One wonders if this should be considered a problem or a blessing for the bidders. I reckon the majority of the bidders are in for stripping the airline from its profitable assets (slots, aircraft, profitable businesses). If the pilots blow the airline up prematurely, it will only lower the price and thus make the assets more attractive.quixoticguide wrote: ↑06 Sep 2017, 21:40 Another problem for Alitalia, the pilots are running away.
said an Airbus A330 captain who has been flying with the airline for almost two decades.Alitalia pilots are required by contract to give a 120-day notice when resigning, which may lead to a surge of exits towards the end of September, or four months since the bankruptcy,
https://thepointsguy.com/2017/09/buy-al ... ning-away/
- quixoticguide
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Re: Alitalia near bankruptcy. Can it be saved?
Yes, I agree but you need pilots to fly your planesLJ wrote: ↑08 Sep 2017, 22:30One wonders if this should be considered a problem or a blessing for the bidders. I reckon the majority of the bidders are in for stripping the airline from its profitable assets (slots, aircraft, profitable businesses). If the pilots blow the airline up prematurely, it will only lower the price and thus make the assets more attractive.quixoticguide wrote: ↑06 Sep 2017, 21:40 Another problem for Alitalia, the pilots are running away.
said an Airbus A330 captain who has been flying with the airline for almost two decades.Alitalia pilots are required by contract to give a 120-day notice when resigning, which may lead to a surge of exits towards the end of September, or four months since the bankruptcy,
https://thepointsguy.com/2017/09/buy-al ... ning-away/
Visit my flights on: http://www.quixoticguide.com
Re: Alitalia near bankruptcy. Can it be saved?
Slots and aircraft need pilots to,operate them!
There is a shortage of experienced pilots. Ryanair offers 10000€ welcome bonus to 737 captains, easyJet can't find captains for their Portugese bases (+10000gross/month), Norwegian are cancelling flights due to lack of pilots. AZ-pilots are known to be high caliber, they are an asset not a cost.