Alitalia saved by the Government and reborn as ITA

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Re: Alitalia near bankruptcy. Can it be saved?

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Alitalia will relaunch with a maximum of 70 planes (down from 112) and 4,000 less employees, according to the new industrial plan.
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Re: Alitalia near bankruptcy. Can it be saved?

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Surprise: Alitalia will be put into liquidation if the EU does not approve the state aid. Newco will be set up with 10 million share capital, to draw up the business plan which will be sent to Brussels.
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Re: Alitalia near bankruptcy. Can it be saved?

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Sources: A220, A320 and 787 Dreamliner for Alitalia?

According to 4 sources quoted by Corriere della Sera, the new Alitalia could operate short and medium-haul flights with Airbus A320s and A220s for CityLiner regional division and Boeing 787 Dreamliners (787-8 and 787-9) for long-haul flights.

https://aeronewsglobal.com/sources-a220 ... zdAS1D4NS0

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Re: Alitalia near bankruptcy. Can it be saved?

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Delta Air Lines plans to offers slots to the new Alitalia on trans-Atlantic routes.
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Re: Alitalia near bankruptcy. Can it be saved?

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State aid: European Commission approves €199.45 million Italian support to compensate Alitalia for damages suffered due to coronavirus outbreak

The European Commission has found Italian €199.45 million support in favour of Alitalia to be in line with EU State aid rules. The measure aims at compensating the airline for the damages suffered due to the coronavirus outbreak. Alitalia is a major network airline operating in Italy. With a fleet of over 95 planes, in 2019 the company served hundreds of destinations all over the world, carrying about 20 million passengers from its main hub in Rome and other Italian airports to various international destinations. Since the start of the coronavirus outbreak, Alitalia has suffered a significant reduction of its services, resulting in high operating losses. Italy notified to the Commission an aid measure to compensate Alitalia for the damage suffered from 1 March 2020 to 15 June 2020 resulting from the containment measures and travel restrictions introduced by Italy and other destination countries to limit the spread of the coronavirus.

The support will take the form of a €199.45 million direct grant, which corresponds to the estimated damage directly caused to the airline in that period. The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or sectors for damage directly caused by exceptional occurrences. The Commission considers that the coronavirus outbreak qualifies as such an exceptional occurrence, as it is an extraordinary, unforeseeable event having significant economic impact. As a result, exceptional interventions by the Member State to compensate for the damages linked to the outbreak are justified. The Commission found that the Italian measure will compensate the damage suffered by Alitalia that is directly linked to the coronavirus outbreak. It also found that the measure is proportionate, as the compensation does not exceed what is necessary to make good the damage. On this basis, the Commission concluded that the Italian damage compensation measure is in line with EU State aid rules. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This measure will enable Italy to compensate Alitalia for the damage directly suffered due to the travel restrictions necessary to limit the spread of the coronavirus. The aviation industry is one of the sectors that has been hit particularly hard by the coronavirus outbreak. We continue working with Member States to find workable solutions to support companies in these difficult times, in line with EU rules. At the same time, our investigations into past support measures to Alitalia are ongoing and we are in contact with Italy on their plans and compliance with EU rules.

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Re: Alitalia near bankruptcy. Can it be saved?

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The above aid was not enough! Alitalia has asked the Italian government for more financial aid to avoid its bankruptcy, which would be added to the €199.45 million received in September 2020.
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Re: Alitalia near bankruptcy. Can it be saved?

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sn26567 wrote: 08 Oct 2020, 21:21 The above aid was not enough! Alitalia has asked the Italian government for more financial aid to avoid its bankruptcy, which would be added to the €199.45 million received in September 2020.
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Re: Alitalia near bankruptcy. Can it be saved?

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ITA – Italia Trasporto Aereo could shell out around €225 million to buy the assets of Alitalia deemed crucial for the start of operations: the brand, the flight codes, the MilleMiglia loyalty programme and the slots in London Heathrow.
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Re: Alitalia near bankruptcy. Can it be saved?

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ITA – Italia Trasporto Aereo to operate with a fleet of 75 aircraft and 7,000 employees, with a focus on cargo and long haul. Cityliner will compete with low-cost airlines on regional routes.
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Re: Alitalia saved by the Government and reborn as ITA

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ITA is expected to use only B787s for long haul and to replace its 20 Embraers with A220s because Alenia Aermacchi makes parts for both planes.

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Re: Alitalia saved by the Government and reborn as ITA

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Alitalia expects to report a loss of €1 billion in 2020, according to reports.
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Re: Alitalia saved by the Government and reborn as ITA

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Italia Trasporti Aereo was established with a share capital of €20 million, with Francesco Caio as the chairman and Fabio Maria Lazzareni as CEO. The Treasury is the sole shareholder of the airline — the new Alitalia.
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