Alitalia near bankruptcy. Can it be saved?

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

Post by Poiu » 12 Apr 2019, 21:51

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?

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

Post by brusselsairlinesfan » 27 Apr 2019, 01:38

Final countdown ?

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

Post by Passenger » 27 Apr 2019, 07:46

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 » 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?

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

Post by sn26567 » 30 Apr 2019, 15:19

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?

Post by sn26567 » 02 May 2019, 22:19

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?

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

Post by sn26567 » 05 May 2019, 23:26

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

Post by lumumba » 06 May 2019, 00:01

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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cathay belgium
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Re: Alitalia near bankruptcy. Can it be saved?

Post by cathay belgium » 06 May 2019, 07:31

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
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Re: Alitalia near bankruptcy. Can it be saved?

Post by luchtzak » 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. Whereas at Alitalia, they do everything possible to keep the airline afloat.

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

Post by lumumba » 06 May 2019, 10:31

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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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 06 May 2019, 22:03

Just like Sabena, Alitalia is a loss making company. Governments supporting this kind of business falsify competion towards non-funded airlines. Unfair competition: the European Union calls it "illegal state aid".

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Re: Alitalia near bankruptcy. Can it be saved?

Post by luchtzak » 06 May 2019, 22:09

Passenger wrote:
06 May 2019, 22:03
Just like Sabena, Alitalia is a loss making company. Governments supporting this kind of business falsify competion towards non-funded airlines. Unfair competition: the European Union calls it "illegal state aid".
You can sanitize, make the airline healthy again, close routes, etc...

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

Post by lumumba » 06 May 2019, 22:55

Passenger wrote:
06 May 2019, 22:03
Just like Sabena, Alitalia is a loss making company. Governments supporting this kind of business falsify competion towards non-funded airlines. Unfair competition: the European Union calls it "illegal state aid".
ALITALIA is to important for Italy,tourism is the first income of Italy and ALITALIA is an important tool for that....you can not replace it you can not lose it's national interest forger about the rest .

The EU needs to care more about the people and less about the money!
Last edited by lumumba on 07 May 2019, 23:33, edited 1 time in total.
Hasta la victoria siempre.

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cathay belgium
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Re: Alitalia near bankruptcy. Can it be saved?

Post by cathay belgium » 06 May 2019, 23:09

Hi,

Indeed yes... State aid... Like Turkish,Emirates,Etihad,Qatar,.......
Not fair but a common.... for those who can...
It may be not okay but looking at the total picture... Without you loose more now...
Like Greece dumping out of the EU a few years ago , this AZ Will be such a similar event... The momentum is gone..

It hurts to see they can and SN couldn't but that might never be a reason.. to be jealous of not going bust ???

Well SN was killed by our own government ( and Swissair - like LH now btw.. ) but AZ is a different story , they have support..

Illegale state aid is illegal when proven so,when the EU don't intervene I guess your reasons are overruled by your own choosen european government ;)

CXB... Well time will Tell ;)
New types flown : A223,AN24,AW139,B737MAX8,B763nonER,DH Dragonrapide,EMB110 Bandeirante, Shorts360,Autogire MTOsport2010

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

Post by ticketbuyer » 07 Jun 2019, 23:52

The latest 'savior' of AZ is billionaire Claudio Lotito, owner of SS Lazio. Lotito said 'regarding Alitalia it's work in progress, I can't say more'.
Lotito was banned from football for two and a half years in 2006 for his part in the 2006 Italian football match-fixing scandal. Lotito got banned again for 10 months due to illegal third party ownership. However it was shortened to 2 months after appeal.
Meanwhile the Italian government is trying to pin the blame for the collapse of the Morandi Bridge in 2018 on the autostrada franchise owner Atlantia (Benetton). This very lucrative franchise is coming up for renewal.
Guess who the Italian government wants to invest in AZ?
In exchange for dropping of charges and renewal of franchise of course.
The next deadline for the end of the bankruptcy proceedings and the repayment of the 900 million Euro 'loan' is 15th June.
Another extension is widely anticipated.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 11 Jun 2019, 16:16

ticketbuyer wrote:
07 Jun 2019, 23:52
The next deadline for the end of the bankruptcy proceedings and the repayment of the 900 million Euro 'loan' is 15th June.
Another extension is widely anticipated.
And here we go: Italy's Government reportedly plans to further extend the deadline for purchase of Alitalia until late Jun-2019 (Il Messagero/Reuters, 10-Jun-2019).

When will the soap end?
André
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 11 Jun 2019, 16:25

sn26567 wrote:
11 Jun 2019, 16:16
When will the soap end?
When the EU bureaucrats end their hibernation (winterslaap).

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Re: Alitalia near bankruptcy. Can it be saved?

Post by lumumba » 11 Jun 2019, 17:46

You have to understand that if the EU kill Alitalia it's a big revolution in Italy, Italians will never but never accept that and like I said before it's a very important tool for the Italian tourism!!!!

And the EU is very week for the moment a lot a predicting the end of the EU...

Even in Flanders 43% voted for parties that are opposed or want to get out of the EU and Schengen it's a bit the same situation in Italy.
Hasta la victoria siempre.

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