Alitalia near bankruptcy. Can it be saved?

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

Post by ticketbuyer » 15 Feb 2020, 17:36

Alitalia's record flight time aided by Storm Ciara jet stream.
Alitalia made record time crossing the Atlantic on 9 February, recording a flight time of six hours and 38 minutes between New York and Rome.
The Boeing 777, which took off from JFK airport at 17.18 (23.18 in Italy) on 8 February, landed at Leonardo da Vinci airport at 5.56 the next morning, more than an hour ahead of schedule.
The record, which saw the plane beat the normal flight time of seven and a half hours, was aided by a particularly intense jet stream blowing from America to Europe, helping the aircraft to reach speeds of 1,164 km per hour.
Alitalia also made history the same night in Milan after a flight from New York to Malpensa took just six hours and 12 minutes, compared to the average time of just over seven hours.
Furthermore
https://www.nytimes.com/reuters/2020/02 ... -alitalia-

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

Post by ticketbuyer » 15 Feb 2020, 17:53

Off Topic News,
A month ago McKinsey & Company recommended an investment of 400 million Euros in Air Italy to keep it going.
The Aga Khan is head of the Ismaili Muslims who are forbidden to take on any debts they may not be able to repay. This was the case with further investment in Air Italy.


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Vic Diesel
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Vic Diesel » 20 Feb 2020, 13:36

Alitalia to reduce fleet

The de facto bankrupt Italian carrier announced that it will reduce its fleet in the upcoming months, as it struggles to keep its head over water.

Affected are 4 A320s and 2 A321s, which will be returned to their lessors. Also affected is the carrier's biggest aircraft, the sole B777-300ER - almost-eleven-years-old EI-WLA is on lease from Aercap, with the leasing causing monthly costs of 675.000 USD. Alitalia shareholder Etihad also gets two aircraft returned: one A330 in May and June each.

Source: Austrian Aviation.Net
Best regards,
Viktor

(Budapest-born, Vienna-raised, working in Brussels)

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

Post by TLspotting » 21 Feb 2020, 20:10

Alitalia has won a lawsuit against the tax authorities for more than €675 million, however, its future remains uncertain pending an EU judgment over a bridge loan from the state.
Last edited by sn26567 on 21 Feb 2020, 22:35, edited 1 time in total.
Reason: Changed the $ figure into €, which is the official currency of the EU and Italy
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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

Post by Passenger » 22 Feb 2020, 22:15

TLspotting wrote:
21 Feb 2020, 20:10
Alitalia has won a lawsuit against the tax authorities for more than €675 million, however, its future remains uncertain pending an EU judgment over a bridge loan from the state.
Do you have more details about this? A reliable source? A double check? Because €675M really is a whole lot of money for an Italian tax dispute. On top, it's about a loss making company, hence most probably it's no dispute about taxes on their financial result...

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

Post by sn26567 » 24 Feb 2020, 21:01

Alitalia will have its debts siphoned off in order for the government to accelerate the sale of the carrier. Also, some narrowbodies will be sold soon.

And who will pay for the debts? The Italian taxpayers again?
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Re: Alitalia near bankruptcy. Can it be saved?

Post by TLspotting » 24 Feb 2020, 22:03

It can be speculation but if Coronavirus suddenly spreads, I don't think that Alitalia will survive.
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger » 24 Feb 2020, 22:12

TLspotting wrote:
24 Feb 2020, 22:03
It can be speculation but if Coronavirus suddenly spreads, I don't think that Alitalia will survive.
Don't worry. The Italian government will give Alitalia a 2019-nCoV loan.

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Re: Alitalia near bankruptcy. Can it be saved?

Post by TLspotting » 24 Feb 2020, 22:14

Passenger wrote:
24 Feb 2020, 22:12
TLspotting wrote:
24 Feb 2020, 22:03
It can be speculation but if Coronavirus suddenly spreads, I don't think that Alitalia will survive.
Don't worry. The Italian government will give Alitalia a 2019-nCoV loan.
And then they will give Alitalia to Switzerland ? :?
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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

Post by lumumba » 25 Feb 2020, 09:52

Passenger wrote:
24 Feb 2020, 22:12
TLspotting wrote:
24 Feb 2020, 22:03
It can be speculation but if Coronavirus suddenly spreads, I don't think that Alitalia will survive.
Don't worry. The Italian government will give Alitalia a 2019-nCoV loan.
I'm sure the EU will allow government aid if an national airline is in danger because this epidemic problem.
Hasta la victoria siempre.

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

Post by Passenger » 25 Feb 2020, 12:42

lumumba wrote:
25 Feb 2020, 09:52
Passenger wrote:
24 Feb 2020, 22:12
TLspotting wrote:
24 Feb 2020, 22:03
It can be speculation but if Coronavirus suddenly spreads, I don't think that Alitalia will survive.
Don't worry. The Italian government will give Alitalia a 2019-nCoV loan.
I'm sure the EU will allow government aid if an national airline is in danger because this epidemic problem.
Nope. Have you read on the homepage here what the EU just has decided for a Romanian state loan to Tarom? The €36M must be refunded/recovered within six months. That's something that Alitalia is unable to do.
https://www.aviation24.be/airlines/taro ... ier-tarom/

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

Post by lumumba » 25 Feb 2020, 15:17

Passenger wrote:
25 Feb 2020, 12:42
lumumba wrote:
25 Feb 2020, 09:52
Passenger wrote:
24 Feb 2020, 22:12

Don't worry. The Italian government will give Alitalia a 2019-nCoV loan.
I'm sure the EU will allow government aid if an national airline is in danger because this epidemic problem.
Nope. Have you read on the homepage here what the EU just has decided for a Romanian state loan to Tarom? The €36M must be refunded/recovered within six months. That's something that Alitalia is unable to do.
https://www.aviation24.be/airlines/taro ... ier-tarom/
But this has nothing to do with the Corona Virus let's see when airlines will be in problems because this virus.
Hasta la victoria siempre.

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

Post by uweploch » 26 Feb 2020, 16:08

On february 28th interested parties may bid, other than the way before by buing a stake in a newco, but
by either biddung for one or more sectionss of Alitaloa: aviation, handling, maintenance
(vendita in spezzatino).

Among the bidders expected are: Efromovich, Lufthansa, probabilmente Delta, Airfrance.
Source: ilMessagero.it (paywal) or ilmattino.it/economia/alitalia

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

Post by sn26567 » 26 Feb 2020, 18:10

Welcome to Aviation24.be, uweploch.

In other news, Alitalia is being investigated for entering into “inconsistent agreements, unreasonable and harmful to the interests of Alitalia” in favour of Darwin Airline (Switzerland), during 2014-2017.
André
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sn26567
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Re: Alitalia near bankruptcy. Can it be saved?

Post by sn26567 » 27 Feb 2020, 22:13

Alitalia is now mulling dividing the company into three units — the mainline unit, maintenance and ground handling — in hopes to entice potential investors.
André
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ticketbuyer
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Re: Alitalia near bankruptcy. Can it be saved?

Post by ticketbuyer » 28 Feb 2020, 10:49

Alitalia has asked for a new temporary layoff procedure for 3,960 employees (out of approximately 11,500) including 213 captains, 277 other pilots, 1129 flight attendants and 2350 people employed on the ground.
Any future buyer of Alitalia will not have to bear the repayment of the 1.3 billion of the bridging loan.

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

Post by Passenger » 28 Feb 2020, 11:42

ticketbuyer wrote:
28 Feb 2020, 10:49
...
Any future buyer of Alitalia will not have to bear the repayment of the 1.3 billion of the bridging loan.
That proposal from the Italian government is ridiculous. It's not up to the Italian government to decide such thing: it's the EU Directorate-General for Competition that will decide.

Example:
https://ec.europa.eu/commission/pressco ... /IP_20_313

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

Post by lumumba » 28 Feb 2020, 11:59

Passenger wrote:
28 Feb 2020, 11:42
ticketbuyer wrote:
28 Feb 2020, 10:49
...
Any future buyer of Alitalia will not have to bear the repayment of the 1.3 billion of the bridging loan.
That proposal from the Italian government is ridiculous. It's not up to the Italian government to decide such thing: it's the EU Directorate-General for Competition that will decide.

Example:
https://ec.europa.eu/commission/pressco ... /IP_20_313
I repeat passenger the EU will not move here for political reasons.
Hasta la victoria siempre.

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

Post by sn26567 » 29 Feb 2020, 16:22

lumumba wrote:
28 Feb 2020, 11:59
I repeat passenger the EU will not move here for political reasons.
EU launches antitrust probe into Italy loan to Alitalia

BRUSSELS — The European Union’s antitrust watchdog said Friday that it has launched an investigation into a loan of 400 million euros from the Italian government to national airline Alitalia to establish whether the money is illegal state aid.

https://www.nytimes.com/aponline/2020/0 ... probe.html
André
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