Alitalia saved by the Government and reborn as ITA

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sn26567
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 »

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

Post by convair »

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 »

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Incidentally,to illustrate the scale of AZ's problems; LH's withdrawn plan was to take only the flying operation and reduce its staff from 7k to 4k.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?

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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 »

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 »

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?

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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 »

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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Re: Alitalia near bankruptcy. Can it be saved?

Post by Poiu »

Passenger wrote: 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.
The EU accepted it for Brussels Airlines, so why not for AZ?

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Re: Alitalia near bankruptcy. Can it be saved?

Post by brusselsairlinesfan »

Final countdown ?

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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger »

Reuters about Friday's state aid discussion:
https://www.euronews.com/2019/04/26/hop ... ome-denial

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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger »

Just wondering: tomorrow is the last day for "place your bids".

Or will Alitalia postpone it once again, till after the EU Election Day?

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 »

Passenger wrote: 29 Apr 2019, 21:28 Just wondering: tomorrow is the last day for "place your bids".

Or will Alitalia postpone it once again, till after the EU Election Day?
The soap goes on:

Ferrovie dello Stato examines possibility of extension of Alitalia bids

Italy’s state railway Feorrovie dello Stato (FS) said on Monday its board had met and looked at a possible delay to a deadline to submit a rescue plan for ailing carrier Alitalia.

Once FS submits a request for a further delay, the commissioners and Italy’s industry ministry will need to take a decision on the matter.

https://www.reuters.com/article/us-alit ... SKCN1S51RS
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Re: Alitalia near bankruptcy. Can it be saved?

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Italy’s government is assessing new offers from potential suitors for Alitalia, said Italy’s Deputy Prime Minister Luigi Di Maio. No winner was announced on 01 May 2019.
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Re: Alitalia near bankruptcy. Can it be saved?

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Tell me it's a bad dream: Alitalia stake sale deadline is extended until late May 2019, as there was “still one investor missing” from the consortium.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 »

sn26567 wrote: 03 May 2019, 22:56 Tell me it's a bad dream: Alitalia stake sale deadline is extended until late May 2019, as there was “still one investor missing” from the consortium.
Not late May, but 15 June! I can't believe it:

A government statement that was released last Friday, announced that Luigi Di Maio, the deputy prime minister of Italy, extended a deadline to submit the bids for Alitalia, the ailing carrier, to the 15th of June.

The decision comes after a request from Ferrovie dello Stato, the state railway group of Italy, which is considered as one of the firms who have said that they are willing to contribute to the rescue plan.

Reportedly, the railway has been considering a potential partnership with Delta Airlines, which is based in Atlanta, USA, which is interested in holding a 15-percent stake.

The Italian Treasury would take another 15 percent.

The government of Italy still needs one or more investor to contribute to a bid that is estimated to be worth approximately 1 billion euros.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by lumumba »

It's not a bad dream there are still flying there is still hope...that's positive no?
Or you want them dead?
At least they will do everything to save it!
Hasta la victoria siempre.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by cathay belgium »

Hi,

Well some want to see AZ dead ....
My guess it can happen but not very soon..
Italy goverment want it airborne - despite SN 's belgian government ! - .
EU Will think twice before dropping the axe on AZ head.

Italy is big, bigger.. their government is not that EU minded and making thousands redundant will change a mind ! This with EU elections in less then a month !

Well if you want to open pandora's box , drop the axe !

AZ must be ended long time ago, but thé momentum for that lays way behind us...

So let it live a little Longer... to protect what we have..

Another transformed in a EW thing , no thx anyway...

CXB
New types flown 2020 : A321neo,B781

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Re: Alitalia near bankruptcy. Can it be saved?

Post by luchtzak »

Nobody wants to see a legacy airline go bust, but we Belgians compare with Sabena. In 2000-2001, the Belgian government didn't hesitate to put the airline down. Whereas at Alitalia, they do everything possible to keep the airline afloat.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by lumumba »

luchtzak wrote: 06 May 2019, 08:30 Nobody wants to see a legacy airline go bust, but we Belgians compare with Sabena. In 2000-2001, the Belgian government didn't hesitate to put the airline down. Where at Alitalia, they do everything possible to keep the airline afloat.
Exactly...
Hasta la victoria siempre.

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