Alitalia near bankruptcy. Can it be saved?

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Passenger
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 13 Feb 2019, 11:01

A claim from APFL (Aircraft Purchase Fleet Ltd) against Alitalia of 260,000,000 USD has been rejected by the British High Court (Business and Property Courts):

Summary:
https://www.judiciary.uk/wp-content/upl ... ummary.pdf

Full verdict:
http://www.bailii.org/cgi-bin/format.cg ... /3315.html

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 14 Feb 2019, 21:34

EasyJet confirms that it is in discussions with Ferrovie dello Stato (Italian Railway company) and Delta Air Lines about forming a consortium to explore options for the future operations of Alitalia.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 17 Feb 2019, 15:34

The Italian government has not yet decided how much of a stake it will take in Alitalia, which is currently under special administration as commissioners seek a buyer. The government could take a more than 15% share.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 19 Feb 2019, 20:27

Acquiring a part of Alitalia doesn't come cheap! Delta Air Lines and easyJet may invest as much as €400 million to revamp Alitalia, according to people familiar with an initial draft of the plan. Investors in a group led by Ferrovie dello Stato are evaluating the financial needs of the “new Alitalia”.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 18 Mar 2019, 17:05

In the never-ending Alitalia soap opera, easyJet has pulled out of a consortium contemplating a bid for bankrupt Italian carrier Alitalia, just over a month after confirming its involvement in the process. But EasyJet remains committed to Italy.

Delta Airlines remains interested and would begin with a 10% stake in Alitalia , should it win the bid, with its doubling to 20% by the end of the four-year plan.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 20 Mar 2019, 19:05

Ferrovie dello Stato says its business plan for Alitalia will definitely be presented before end April 2019.

After the Airbus, the Airtrain?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 25 Mar 2019, 22:43

sn26567 wrote:
20 Mar 2019, 19:05
Ferrovie dello Stato says its business plan for Alitalia will definitely be presented before end April 2019.

After the Airbus, the Airtrain?
Italy is in early talks with public shipbuilder Fincantieri to know if it is interested in investing in Alitalia.

After the Airtrain, the Airboat?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 28 Mar 2019, 23:02

Ferrovie dello Stato is like its trains: late! Alitalia commissioners are putting pressure on Ferrovie dello Stato to present a rescue plan for the troubled airline but are willing to allow it more time. Patience...
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Re: Alitalia near bankruptcy. Can it be saved?

Post by lumumba » 29 Mar 2019, 07:57

I now quit well the trains in Italy and they running good not like here.....!
Hasta la victoria siempre.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 29 Mar 2019, 15:16

lumumba wrote:
29 Mar 2019, 07:57
I now quit well the trains in Italy and they running good not like here.....!
Yep, we know from several posts from you that Belgium really is a third world country. You already told us we have a poor flag carrier with old and dirty aircraft (including the A333's who have recently joined the fleet), poor national airport, ... So quite obvious, our railway system sucks too. And that Diabolo tunnel to the airport: nobody understands why Belgium was able to build such an efficient thing.

Anyway: if Ferrovie dello Stato would indeed rescue Alitalia, it's just a matter of time before the EU calls it forbiden state aid.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by lumumba » 29 Mar 2019, 15:26

Passenger wrote:
29 Mar 2019, 15:16
lumumba wrote:
29 Mar 2019, 07:57
I now quit well the trains in Italy and they running good not like here.....!
Yep, we know from several posts from you that Belgium really is a third world country. You already told us we have a poor flag carrier with old and dirty aircraft (including the A333's who have recently joined the fleet), poor national airport, ... So quite obvious, our railway system sucks too. And that Diabolo tunnel to the airport: nobody understands why Belgium was able to build such an efficient thing.

Anyway: if Ferrovie dello Stato would indeed rescue Alitalia, it's just a matter of time before the EU calls it forbiden state aid.
Hey Passenger.

No Belgium is not a third world country and if you look back to my former posts you will see that I'm critical about Brussels Airlines and Airport and only about them because I fly them and I love them.
You will also see that I posted positive posts also....
About the train company in Belgium I use them every day and yes this is quite a third country company and I'm sure most people agree with me here I even don't think there is a discussion ;)

And again the EU will not move because after the UK they will not take the risk to lose Italy the people are fed up with this ultra liberal Europe.
But this was already discussed before time will tell.
Hasta la victoria siempre.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 03 Apr 2019, 15:33

The soap opera is not going to be over any time soon. It's as passionating as the Brexit discussions in the British Parliament.

Ferrovie dello Stato calls for Alitalia two-month deadline extension!

Ferrovie dello Stato, the state-owned operator of Italy’s railways, has been in talks with Delta Air Lines over the rescue of Alitalia but last week said it needed more time to iron out a business plan for the Italian flag carrier.

https://www.reuters.com/article/us-alit ... SKCN1RE1SK
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Re: Alitalia near bankruptcy. Can it be saved?

Post by convair » 04 Apr 2019, 14:46

sn26567 wrote:
03 Apr 2019, 15:33
Ferrovie dello Stato, ....... last week said it needed more time to iron out a business plan for the Italian flag carrier.
I would have thought Ferrovie was an expert at "ironing out". ;)

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Re: Alitalia near bankruptcy. Can it be saved?

Post by ticketbuyer » 05 Apr 2019, 10:30

FdS have been given an extension until 30 April only to avoid overlap with the EU elections.
Incidentally,to illustrate the scale of AZ's problems; LH's withdrawn plan was to take only the flying operation and reduce its staff from 7k to 4k.
The maintenance, handling and offices were to be outsourced with staff reduced from 5k to 3k.
A total of 5000 laid off and 3000 transferred to lower paying contracts.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 08 Apr 2019, 21:08

Alitalia must pay back 900 million euros in state funds by July 2019, but the carrier will not be able to repay this debt despite multiple extensions. And I doubt that Ferrovie dello Stato can come to the rescue.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 11 Apr 2019, 08:11

sn26567 wrote:
08 Apr 2019, 21:08
Alitalia must pay back 900 million euros in state funds by July 2019, but the carrier will not be able to repay this debt despite multiple extensions. And I doubt that Ferrovie dello Stato can come to the rescue.
What's in a name? Italy has, by law, changed the word "loan" into "equity". A loan has to be paid back - whilst an equity is a long term investment...
https://www.eturbonews.com/249436/keepi ... conversion

Just wondering if the EU State Aid guys will accept this madness.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by Charlie Roy » 11 Apr 2019, 09:44

Amazing how Alitalia can still survive, whereas Jet Airways has a couple of bad years and is suddenly in deep sh*t.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 11 Apr 2019, 10:29

Charlie Roy wrote:
11 Apr 2019, 09:44
Amazing how Alitalia can still survive, whereas Jet Airways has a couple of bad years and is suddenly in deep sh*t.
Alitalia is a flag carrier, Jet Airways not.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by luchtzak » 11 Apr 2019, 15:14

sn26567 wrote:
11 Apr 2019, 10:29
Charlie Roy wrote:
11 Apr 2019, 09:44
Amazing how Alitalia can still survive, whereas Jet Airways has a couple of bad years and is suddenly in deep sh*t.
Alitalia is a flag carrier, Jet Airways not.
Then Sabena always springs in my mind 🤔

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