Alitalia near bankruptcy. Can it be saved?

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 06 Sep 2019, 18:43

sn26567 wrote:
02 Sep 2019, 23:08
You thought the story would be over soon? You will be disappointed: Alitalia has delayed its binding agreement with Delta and Atlantia until 30 September 2019, due to changes within the Italian government.

Until the next postponement...
Companies hoping to rescue Italian carrier Alitalia will ask for a deadline for presenting their plan to be extended as they are still negotiating key aspects, two sources familiar with the matter said.

Italian railway group Ferrovie dello Stato, which is leading an effort to take control of Alitalia, is expected to ask administrators running the carrier for a "substantial" delay to the Sept. 15 deadline, one of the sources said.

It would be the sixth delay since Ferrovie expressed its interest in investing in the carrier at the end of last year.

https://finance.yahoo.com/news/alitalia ... 15158.html
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Re: Alitalia near bankruptcy. Can it be saved?

Post by luchtzak » 18 Sep 2019, 09:20

A deadline for would-be investors in Alitalia to present their business plan for the relaunch of the bankrupt Italian flag carrier has been pushed back once again, this time to Oct. 15, a union source confirmed to ATW.

https://atwonline.com/airlines/alitalia ... ain-oct-15

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 23 Sep 2019, 16:42

Delta Air Lines should consider increasing its planned investment in the rescue of Alitalia, Italian Prime Minister Giuseppe Conte said as talks over the relaunch of the Italian flagship carrier drag on.

What? Pressure on a foreign airline? What else to rescue a failing flag carrier?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 24 Sep 2019, 18:26

Alitalia and trade unions reached an agreement on layoffs, agreeing to 1,075 jobs being lost. A first step to help the sale of the airline?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by nordikcam » 24 Sep 2019, 18:42

sn26567 wrote:
24 Sep 2019, 18:26
Alitalia and trade unions reached an agreement on layoffs, agreeing to 1,075 jobs being lost. A first step to help the sale of the airline?
...about 12500 employees ... a small 9%! Not too bad except for the 9% of course!

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 27 Sep 2019, 16:08

Alitalia reportedly plans to request a EUR200 million bridging loan to bolster its financial position over winter 2019/2020 (Corriere della Sera). Will the EU allow that additional State Aid?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 27 Sep 2019, 17:30

sn26567 wrote:
27 Sep 2019, 16:08
Alitalia reportedly plans to request a EUR200 million bridging loan to bolster its financial position over winter 2019/2020 (Corriere della Sera). Will the EU allow that additional State Aid?
Most probably not. But the last (public) move from the European Union dates 20/07/2018, when they officially announced they were investigating the previous loans:
http://eur-lex.europa.eu/JOHtml.do?uri= ... OM:EN:HTML
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Re: Alitalia near bankruptcy. Can it be saved?

Post by lumumba » 27 Sep 2019, 17:41

Pity enough they changed there Government I'm not sure this one will stand against the EU dictatorship.
Hasta la victoria siempre.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by luchtzak » 27 Sep 2019, 18:46

sn26567 wrote:
27 Sep 2019, 16:08
Alitalia reportedly plans to request a EUR200 million bridging loan to bolster its financial position over winter 2019/2020 (Corriere della Sera). Will the EU allow that additional State Aid?
Sure! More money in the pit 🙄

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 03 Oct 2019, 22:16

Atlantia has asked the country’s industry ministry to radically revise the rescue plan for Alitalia if negotiations to salvage the ailing carrier are to go on. Delta has agreed to increase its investment in Alitalia to US$131 million, giving the US airline a stake of 12%.

But management continues, unperturbed by the bankruptcy threats: Alitalia will launch a new seasonal route between Rome and San Francisco on 01 June 2020 with B777-200ER, after a 19-year hiatus.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 08 Oct 2019, 20:46

The show goes on. In the absence of decisions, Alitalia investor Atlantia is threatening to leave the rescue consortium over multiple delays and unclear terms.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 09 Oct 2019, 23:28

Hello, I'm back!

Lufthansa has written to Italy’s industry ministry and Ferrovie dello Stato to say it is still interested in struggling airline Alitalia.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 16 Oct 2019, 11:52

Alitalia is set to win a temporary lifeline, when its latest rescue deadline expires on 15 October 2019, with Atlantia expected to give a conditional green light to hundreds of millions of euros of investment.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 16 Oct 2019, 12:26

sn26567 wrote:
16 Oct 2019, 11:52
Alitalia is set to win a temporary lifeline, when its latest rescue deadline expires on 15 October 2019, with Atlantia expected to give a conditional green light to hundreds of millions of euros of investment.
Just wondering when Atlantia will announce that their conditions haven't been met. When debts surpass the assetts by far (including an estimated value of the brand name), it's better to let it go and negociate a deal with the bankruptcy liquidator.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 17 Oct 2019, 12:32

Alitalia returned two A321s to the owners in September 2019 and a further decrease in other aeroplanes is planned in 4Q 2019.

Alitalia won a commitment from toll highway operator Atlantia and railways operator Ferrovie dello Stato to come to its rescue provided a number of conditions were met.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 17 Oct 2019, 20:38

sn26567 wrote:
09 Oct 2019, 23:28
Lufthansa has written to Italy’s industry ministry and Ferrovie dello Stato to say it is still interested in struggling airline Alitalia.
Alitalia may now be rescued by Lufthansa, as the German carrier could take a stake.

Meanwhile, Rome agrees to another €350 million bridging loan. Lost money?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 22 Oct 2019, 22:45

Italy’s government would seem willing to endorse the extension request made by Ferrovie dello Stato and Atlantia for the presentation of the binding offer on Alitalia, but only until 01 December 2019.

And on 30 November they will probably grant another extension until a date somewhere in 2020?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 24 Oct 2019, 23:15

sn26567 wrote:
22 Oct 2019, 22:45
Italy’s government would seem willing to endorse the extension request made by Ferrovie dello Stato and Atlantia for the presentation of the binding offer on Alitalia, but only until 01 December 2019.
Done, as expected! Alitalia administrators have been granted another extension to save the carrier from bankruptcy. The new deadline is 21 November 2019.
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 31 Oct 2019, 14:15

sn26567 wrote:
17 Oct 2019, 20:38
Alitalia may now be rescued by Lufthansa, as the German carrier could take a stake.
German carrier Lufthansa is ready to invest up to 200 million euros in struggling Italian airline Alitalia ...

https://www.reuters.com/article/us-alit ... SKBN1XA0T8
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 03 Nov 2019, 13:49

Lufthansa in, Delta out?

Delta Air Lines Inc. may pull out of bidding for Alitalia SpA, complicating efforts to rescue the bankrupt Italian carrier, Corriere della Sera reported.
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