Alitalia saved by the Government and reborn as ITA

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

Post by ticketbuyer »

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 »

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 »

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 »

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

Post by Passenger »

sn26567 wrote: 29 Feb 2020, 16:22 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
The above 400M is most probably about this "loan", agreed by the Italian Senate on 1th Febr 2020:
sn26567 wrote: 02 Feb 2020, 00:05 Italy’s Senate approved a government decree granting a public "loan" of €400 million to Alitalia...
.

In total, the Italian state now has given Alitalia € 600M + € 300M + € 400M = € 1,3bn. Italian aviation is going to suffer upmost from the coronavirus, making it even more impossible for the airline to refund the three loans. Alitalia's administrators therefore should do what every private company has to do with such negative prospects: throw in the towel.

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

Post by sn26567 »

Reducing frequencies on 38 routes is a first step in the right direction!
André
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Passenger »

Passenger wrote: 29 Feb 2020, 22:04
sn26567 wrote: 29 Feb 2020, 16:22 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
The above 400M is most probably about this "loan", agreed by the Italian Senate on 1th Febr 2020:
sn26567 wrote: 02 Feb 2020, 00:05 Italy’s Senate approved a government decree granting a public "loan" of €400 million to Alitalia...
In total, the Italian state now has given Alitalia € 600M + € 300M + € 400M = € 1,3bn. Italian aviation is going to suffer upmost from the coronavirus, making it even more impossible for the airline to refund the three loans. Alitalia's administrators therefore should do what every private company has to do with such negative prospects: throw in the towel.
Official press release European Commission (02/03/2020):
State aid: European Commission opens in-depth investigation into €400 million Italian government loan to Alitalia

The European Commission has opened an in-depth investigation to assess whether Italy's € 400 million loan granted to Alitalia constitutes State aid and whether it complies with the rules on State aid to companies in difficulty. The opening of an in-depth investigation is a standard step, which provides Italy and other interested parties with an opportunity to provide their views. It does not prejudge in any way the outcome of the investigation. The Commission is working closely with the Italian authorities on the matter. In late 2019, the Italian authorities announced that they would grant a new loan of €400 million to Alitalia to facilitate the streamlining of the company in order to attempt to sell its assets. The Italian decree-law authorising the loan was approved by the Italian government in December 2019. In January 2020, the decree-law was converted into law by the Italian Parliament. The decree also provides that the procedure enabling the disposal of Alitalia's assets must be carried out by 31 May 2020. A new sales process, carried out by the extraordinary commissioner, is expected to be launched shortly. In this context, the Commission's in-depth investigation will provide clarity to Italy and the company as well as interested buyer(s), if the €400 million loan constitutes State aid and if it complies with EU State aid rules. The Commission's role under the EU Treaty is to help ensure a level playing field in the EU's Single Market to the benefit of European consumers and businesses. Interested parties may trigger State aid investigations by lodging complaints with the Commission. In this case, the Commission has received a number of complaints, alleging that the loan constitutes State aid that is not compatible with the applicable EU rules.

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

Post by TLspotting »

Alitalia administrators invite interested investors to submit EOIs for the airline by 18 March 2020. Prospective buyers can bid for the whole airline or one of its three businesses: aviation, handling or maintenance.
Last edited by TLspotting on 06 Mar 2020, 21:48, edited 1 time in total.
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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

Post by lumumba »

TLspotting wrote: 06 Mar 2020, 21:20 Alitalia administrators invite interested investors to submit EOIs for the airline by 18 March 2019. Prospective buyers can bid for the whole airline or one of its three businesses: aviation, handling or maintenance.
2019 :?:
Hasta la victoria siempre.

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

Post by TLspotting »

lumumba wrote: 06 Mar 2020, 21:47
TLspotting wrote: 06 Mar 2020, 21:20 Alitalia administrators invite interested investors to submit EOIs for the airline by 18 March 2019. Prospective buyers can bid for the whole airline or one of its three businesses: aviation, handling or maintenance.
2019 :?:
2020. OOPSIE :lol:
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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

Post by Passenger »

luchtzak wrote: 10 Mar 2020, 09:14 Italy is being placed in complete lockdown over coronavirus fears

https://www.aviation24.be/miscellaneous ... rus-fears/
Corona is an excellent opportunity for the Italian government (and/or Alitalia's administrators) to do what has to be done. Close it down, blame it on the virus.

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

Post by Stij »

Passenger wrote: 10 Mar 2020, 09:35 Corona is an excellent opportunity for the Italian government (and/or Alitalia's administrators) to do what has to be done. Close it down, blame it on the virus.
My 2 cents: That should be done, but they'll do exactly the opposite. They'll use the virus as an excuse to pump in even more money...

Cheers,

Stij

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

Post by convair »

Stij wrote: 10 Mar 2020, 09:49
Passenger wrote: 10 Mar 2020, 09:35 Corona is an excellent opportunity for the Italian government (and/or Alitalia's administrators) to do what has to be done. Close it down, blame it on the virus.
My 2 cents: That should be done, but they'll do exactly the opposite. They'll use the virus as an excuse to pump in even more money...

Cheers,

Stij
:lol: I fully agree with you.

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

Post by lumumba »

convair wrote: 10 Mar 2020, 16:18
Stij wrote: 10 Mar 2020, 09:49
Passenger wrote: 10 Mar 2020, 09:35 Corona is an excellent opportunity for the Italian government (and/or Alitalia's administrators) to do what has to be done. Close it down, blame it on the virus.
My 2 cents: That should be done, but they'll do exactly the opposite. They'll use the virus as an excuse to pump in even more money...

Cheers,

Stij
:lol: I fully agree with you.
Hopefully they do so....
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 »

Hi,

Hope not...
After Air Italy, Alitalia.. and leaving Italy like Hungary with only Wizz,Ryanair and a foreign invader LOT ?
God hell no !

Haha..

Guess Alitalia can take a virus, government opens up 10 billion Corona aid is ;)
So with Corona Alitalia can have it's share :)

Avgeeks hoping on a destruction of an old carrier shame on you...
Guess first Norwegian, SN turning to positive results? , ...



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New types flown 2020 : A321neo,B781

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

Post by nordikcam »

But Alitalia is a "Tonneau of 60.000.000 Danaïdes" !
I don't have a translation for the expression "Tonneau des Danaïdes"! Sorry

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

Post by cathay belgium »

Hi,

It all depends on who's drinking from the other end of ' le tonneau' ;)

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New types flown 2020 : A321neo,B781

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

Post by sn26567 »

Alitalia is quickly running out of cash, leaving the option for new state financing or syphoning off the mainline unit to a new public vehicle. Both results will cancel the sale and return the carrier to nationalisation.

Rome was planning an immediate intervention in favour of the air transport industry worth €500 million, followed by other measures worth €3 billion.
André
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Poiu
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Re: Alitalia near bankruptcy. Can it be saved?

Post by Poiu »

Not sure if the EU will buy into this.
Both Willie Walsh (IAG) and Johan Lundgren (U2) said the EU should not allow bailout but should provide temporary credit lines.

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

Post by lumumba »

Chances are that after this big economic problem the economic system will be different...but let's see.
But one thing is sure I think we are going to get out of this budget restriction for a while to get out of this crisis.
And our national debt will surely increase enormously but this will be the only way.
And I believe that no budgetary rigor will be imposed in the coming years to recover!
I'm sure Italy will do everything to nationalise Alitalia to save it. .
Hasta la victoria siempre.

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