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 » 20 Nov 2019, 14:06

With another deadline expiring tomorrow, both Lufthansa and Atlantia don't agree to "invest" yet:
https://www.repubblica.it/economia/2019 ... 241404902/

Reply from the trade unions: let's strike on Friday 13 December for 24 hours...

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

Post by sn26567 » 20 Nov 2019, 15:52

Passenger wrote:
20 Nov 2019, 14:06
With another deadline expiring tomorrow, both Lufthansa and Atlantia don't agree to "invest" yet:
https://www.repubblica.it/economia/2019 ... 241404902/
Indeed.

After months of negotiations, the Alitalia rescue deal has been thrown into doubt by infrastructure group Atlantia declaring on November 19 that it was not prepared to join the consortium. The move comes almost immediately before an already much-delayed November 21 deadline for the delivery of a binding offer for the loss-making carrier.

https://www.ch-aviation.com/portal/news ... -pulls-out

What now? (apart from the 13 December strike which reminds of the end of Sabena)
André
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Passenger
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 20 Nov 2019, 16:12

sn26567 wrote:
20 Nov 2019, 15:52
What now? (apart from the 13 December strike which reminds of the end of Sabena)
There will be at least a time out till next week, when the Pope is back from Thailand and Japan. I can't imagine that the Italian government will have him stranded there.

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

Post by luchtzak » 20 Nov 2019, 18:31

Passenger wrote:
20 Nov 2019, 16:12
sn26567 wrote:
20 Nov 2019, 15:52
What now? (apart from the 13 December strike which reminds of the end of Sabena)
There will be at least a time out till next week, when the Pope is back from Thailand and Japan. I can't imagine that the Italian government will have him stranded there.
No worries, I am 99% sure Alitalia will still be around next year!

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Re: Alitalia near bankruptcy. Can it be saved?

Post by jan_olieslagers » 20 Nov 2019, 18:35

Indeed. The Pope is on a state visit (not to say "on a trip" ;) ), or there's an earthquake somewhere, or the funghi are late on season, or the prime minister's dog is having a litter... Always an explanation.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by nordikcam » 20 Nov 2019, 18:51

luchtzak wrote:
20 Nov 2019, 18:31
Passenger wrote:
20 Nov 2019, 16:12
sn26567 wrote:
20 Nov 2019, 15:52
What now? (apart from the 13 December strike which reminds of the end of Sabena)
There will be at least a time out till next week, when the Pope is back from Thailand and Japan. I can't imagine that the Italian government will have him stranded there.
No worries, I am 99% sure Alitalia will still be around next year!
The Italian taxpayer is rich but not indefinitely ... what is the acceptable limit for the overall deficit? Or when do we take the plug?

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Re: Alitalia near bankruptcy. Can it be saved?

Post by cathay belgium » 20 Nov 2019, 20:01

Hi,
Alitalia always brings the pope but he returns mostly with the home carrier if possible, Thai and ANA Will have the honours I guess, it he rejects Pad Thai and Sashimi on board ;)

No holy spirits this week available, but the Italian government has more tricks then any other holy spirits...

;)

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Re: Alitalia near bankruptcy. Can it be saved?

Post by jan_olieslagers » 20 Nov 2019, 20:36

The Italian taxpayer is rich but not indefinitely
That touches on politics, sadly but unavoidably. In Italy like in certain other countries, there is a marked separation between richer areas, that bring in the majority of tax money (and, hence, have their own ideas about how and where tax money should be spent) and the poorer regions, where people tend to count on "the state" to pay for everything, including national prestige. Take a bit of time and think of the similarities:
Barcelona <-> Madrid
Milano <-> Roma
Antwerp <-> Brussels

[[ added as an afterthought:
and, soon, perhaps, Edinburgh <-> London ? ]]
Last edited by jan_olieslagers on 22 Nov 2019, 13:33, edited 1 time in total.

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

Post by luchtzak » 22 Nov 2019, 13:30

Italy Stuck With Bankrupt Carrier as Lufthansa, Atlantia Balk, Bloomberg reports.

The prospect of a failed agreement comes just ahead of a Thursday deadline for a binding investment plan. The Rome-based government set the timetable in a bid to resolve a decade-long headache and save jobs at the carrier, which has been estimated to lose about 700,000 euros ($789,000) a day and hasn’t posted a profit for at least 15 years.

The Rome-based company is also burning through a 900 million-euro state loan while seeking to compete in a market where fares are falling and consolidation has left it dwarfed by rivals. The government is readying 350 million euros in bridge financing to keep Alitalia flying in the meantime.

https://www.bloomberg.com/news/articles ... ther-delay

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

Post by lumumba » 22 Nov 2019, 16:01

jan_olieslagers wrote:
20 Nov 2019, 20:36
The Italian taxpayer is rich but not indefinitely
That touches on politics, sadly but unavoidably. In Italy like in certain other countries, there is a marked separation between richer areas, that bring in the majority of tax money (and, hence, have their own ideas about how and where tax money should be spent) and the poorer regions, where people tend to count on "the state" to pay for everything, including national prestige. Take a bit of time and think of the similarities:
Barcelona <-> Madrid
Milano <-> Roma
Antwerp <-> Brussels

[[ added as an afterthought:
and, soon, perhaps, Edinburgh <-> London ? ]]
Antwerp-Brussels!!!! Brussels produces much more wealth than Antwerp!
Hasta la victoria siempre.

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

Post by sn26567 » 25 Nov 2019, 18:57

luchtzak wrote:
22 Nov 2019, 13:30
The government is readying 350 million euros in bridge financing to keep Alitalia flying in the meantime.
Alitalia to receive another government bailout of €400 million, thus challenging the EU’s state aid rules.
André
ex Sabena #26567

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 26 Nov 2019, 21:51

Alitalia is not expected to get a new deadline extension for the submission of an investors’ rescue plan. The government is considering the next steps.
André
ex Sabena #26567

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 01 Dec 2019, 17:22

Alitalia trade unions are urging the government to put forward a nationalisation plan for the carrier to end uncertainty over its future.

... and pump more taxpayer money into the airline?
André
ex Sabena #26567

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

Post by jan_olieslagers » 01 Dec 2019, 17:51

Of course. What else would you have expected?

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Re: Alitalia near bankruptcy. Can it be saved?

Post by cathay belgium » 01 Dec 2019, 18:41

Hi,

An government which pull the plug out and make 12000 people redundant which all have votes ;)
Are we cheering here to see another airline go bust ? Haha
Belgian type of Sabenausia ?

Well as long as LH isn't involved in a solution I'm glad :)

Hope Delta will be tough enough to pull the strings...

CXB
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ticketbuyer
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Re: Alitalia near bankruptcy. Can it be saved?

Post by ticketbuyer » 02 Dec 2019, 22:03

Alitalia is to receive another 400k Euros to keep it flying.
Still the luckiest airline in the world.

https://uk.reuters.com/article/us-alita ... KKBN1Y626G

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

Post by sterling » 04 Dec 2019, 12:30

ticketbuyer wrote:
02 Dec 2019, 22:03
Alitalia is to receive another 400k Euros to keep it flying.
Still the luckiest airline in the world.

https://uk.reuters.com/article/us-alita ... KKBN1Y626G
You mean 400m.... they are losing at least 400k per day. :(

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 07 Dec 2019, 16:12

Atlantia (owned by the Benetton family) is still interested in supporting the relaunch, and not the rescue of Alitalia, says its chairman.

Whatever! They want the benefits, not the costs.
André
ex Sabena #26567

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