Alitalia saved by the Government and reborn as ITA Airways

[Boeing767copilot]

Alitalia plunged into chaos as workers reject rescue deal

https://www.ft.com/content/8a63642e-293 ... 8383da43b7

[Yuqu12]

Oh oh... And the end of the month is nearly there. They'll have to come up with a good plan very soon if they want to rescue Alitalia :/

[brusselsairlinesfan]

Alitalia plunged into chaos as workers reject rescue deal

https://www.ft.com/content/8a63642e-293 ... 8383da43b7

Incredible news! Can we fear a SABENA scenario now?!

[Passenger]

Just ask https://translate.google.com to translate the analysis from La Repubblica about yesterday's no-vote, and it's clear that only two scenarios are left now: a full takeover by Etihad or bankruptcy. But given the refusal by (2/3th of) the employers to Etihad's recovery plan, I think that Etihad will consolidate its loss, and end their Italian avventura.

http://www.repubblica.it/economia/2017/ ... 163844851/

[Oiseau du Ciel]

It's not looking good at all. As far as I've found out, the company makes a loss of about €500 000 per day, there would be found €1 000 000 000 in order to save the company. To do so, a resqueplan was provided, including the loss of 1 700 employees and wagecuts in exchange for €2 000 000 000. It seamed the company wouldn't last until end of March. I don't think that given the losses made by the company since years, Etihad will be interested in taking the whole share of it, neiter do I think will it be taken by the Lufthansa group, unless there might be a plan like the post-SABENA era in wich a new company was build. Yet it papears there is a tremendous competition with Ryanair and Easyjet on the Italian market so I'm afraid the point of no return has been reached. Prepare for crash landing, brace brace brace

[brusselsairlinesfan]

Important meeting tomorrow...
1 last hope : a potential new investor... but no more state aid this time!
Otherwise, it will be the end...

[Yuqu12]

Indeed no more state aid. Then the Italian government will get the debts and the dead bodies that will fall out of the Alitalia closets. That's reason enoguh to make Italy almost bankrupt again and then the Euro gets in troubles again. To be fair, I think the Italian government already made up their minds and it is just a matter of time to see the definitive bankruptcy in the next couple of days.

[sn26567]

Indeed no more state aid.

Sure?

Alitalia is preparing for special administration proceedings after workers rejected its latest rescue plan, making it impossible for the airline to secure funds to keep its aircraft flying.

The airline must appoint a special commissioner as soon as possible, according to ENAC President Vito Riggio.

But ... it will receive a government bridge loan of €300-400 million to keep it operational for six months while a new owner is sought !!!

And it has said on all social media that it keeps operating all flights normally, as if nothing happened.

Malaysia Airlines, which was itself in bad shape not so long ago, offered help: it proposed to lease six to eight A330s from Alitalia if the struggling Italian airline is wound up.

[Yuqu12]

This is then political suicide for the Italian government. Now 6 months. But what if no new owner is found? Goodbye 300-400 million. This is entering a road without an end...

[brusselsairlinesfan]

It looks like a dead end indeed... Is AZ doomed to fail? Or does the italian gvt already have some contacts with a potential investor? I mean... otherwise, there would be no loan...

[Passenger]

More details by the Italian guys (m/f) from Business Insider: there is little chance that Europe will allow that the Italian government gives them a "loan" of 300m-400m, with the ongoing debts. Who wants to buy a company that only looses money, that has no perspectives, and that is loosing the confidence from travellers?

https://it.businessinsider.com/alitalia ... -di-stato/

I have read that a Board meeting (shareholders) is set for 2nd May. The last one, I guess.

[ezis_bis]

Following Italian news I have the impression:

1. They're dead serious about not nationalizing. Some one will buy it as a whole or it will be sold in pieces.
Lufthansa is named a lot, but rather to buy some pieces
2. The bridge loan is meant to survive the summer (tourist) season only. Stranded passengers/tourists not making it to Italy might be more costly

[luchtzak]

Following Italian news I have the impression:

1. They're dead serious about not nationalizing. Some one will buy it as a whole or it will be sold in pieces.
Lufthansa is named a lot, but rather to buy some pieces
2. The bridge loan is meant to survive the summer (tourist) season only. Stranded passengers/tourists not making it to Italy might be more costly

The Italian government will step in: https://www.aviation24.be/airlines/alitali ... ep-afloat/

[nordikcam]

Following Italian news I have the impression:

1. They're dead serious about not nationalizing. Some one will buy it as a whole or it will be sold in pieces.
Lufthansa is named a lot, but rather to buy some pieces
2. The bridge loan is meant to survive the summer (tourist) season only. Stranded passengers/tourists not making it to Italy might be more costly

The Italian government will step in: https://www.aviation24.be/airlines/alitali ... ep-afloat/

And the new buyer searched by Italian Government will pay de big bill ! And UE accepts the bridge-loan of 400 million ?

[sn26567]

Meanwhile, flights continue unchanged:

[sn26567]

Lufthansa said it was not interested in buying Alitalia, whose future is unclear after workers this week ruled out a rescue plan.

[Poiu]

Following Italian news I have the impression:

1. They're dead serious about not nationalizing. Some one will buy it as a whole or it will be sold in pieces.
Lufthansa is named a lot, but rather to buy some pieces
2. The bridge loan is meant to survive the summer (tourist) season only. Stranded passengers/tourists not making it to Italy might be more costly

The Italian government will step in: https://www.aviation24.be/airlines/alitali ... ep-afloat/

And the new buyer searched by Italian Government will pay de big bill ! And UE accepts the bridge-loan of 400 million ?

A Sabena scenario: use the bridge loan to create a new company, transfer slots and other assets to NewCo for 1€, transform bridge loan into worthless shares and sell to Luftie for peanuts.

[nordikcam]

A Sabena scenario: use the bridge loan to create a new company, transfer slots and other assets to NewCo for 1€, transform bridge loan into worthless shares and sell to Luftie for peanuts.

Why would LH enter in this scenario ?

[Poiu]

A Sabena scenario: use the bridge loan to create a new company, transfer slots and other assets to NewCo for 1€, transform bridge loan into worthless shares and sell to Luftie for peanuts.

Why would LH enter in this scenario ?

Because they (EW?) can expand in Italy without taking too much risks.

[TLspotting]

A Sabena scenario: use the bridge loan to create a new company, transfer slots and other assets to NewCo for 1€, transform bridge loan into worthless shares and sell to Luftie for peanuts.

Why would LH enter in this scenario ?

Lufthansa has all to take (Lufthansa a tout à prendre in French but I translate that litteraly,because I don't know the perfect sentence btw) because Alitalia is a national airline !

Lufthansa Group has :
Germanwings (rebranding in progress as EWG)
Eurowings
Austrian
Swiss
Brussels Airlines
Lufthansa

For those 6 airlines,4 are the "flag carrier" so... Why not a 5th with Alitalia !
Economically, Lufthansa AG has earn so many money that they'll have no problem about that.
Alitalia has too a young fleet...
I think the switch from SkyTeam to Star Alliance will not be easy...

Because they (EW?) can expand in Italy without taking too much risks.

Milan MXP,Naples are bases for easyJet and Ryanair,Venice for easyJet and Bari,Bologna,Brindisi,Cagliari,Catania,Lamezia Terme,Milan BGY,Palermo,Pisa,Rome (CIA & FCO) and Trapani for Ryanair...

For Volotea...

Genoa,Palermo,Venice and Verona...

Well,the difficulty for Lufthansa is not to take the operations of Alitalia,it is to develop into the country,because the low-costs as Ryanair,easyJet and Volotea have together an important part of the market in Italy.