Volare - c'est fini ...!!!

almayer · Post by **almayer** » 23 Nov 2004, 11:51

It seems that the Italian governemnt wants to use the Marzano law (same one used to save Parmalat) in order to save Volare. Blue Panorama and Meridiana are interested in buying parts of the company:

http://www.repubblica.it/2004/i/sezioni ... venza.html
http://www.repubblica.it/2004/i/sezioni ... f/gdf.html

waldova · Post by **waldova** » 23 Nov 2004, 12:27

That would be good news. So this could mean that Volare will continue to fly if this is applicable?

almayer · Post by **almayer** » 23 Nov 2004, 15:33

waldova wrote:That would be good news. So this could mean that Volare will continue to fly if this is applicable?

That's the idea. The want to nominate a special commissioner to supervise the company, only problem is that one of the candidates is the boss of Blue Panorama.

Post by **sn26567** » 23 Nov 2004, 17:49

almayer wrote:They want to nominate a special commissioner to supervise the company, only problem is that one of the candidates is the boss of Blue Panorama.

Why not? If consolidation is the only way to save the airline...

almayer · Post by **almayer** » 23 Nov 2004, 18:33

sn26567 wrote:
almayer wrote:They want to nominate a special commissioner to supervise the company, only problem is that one of the candidates is the boss of Blue Panorama.
Why not? If consolidation is the only way to save the airline...

Why not? Would you put a fox in charge of the henhouse?
Blue Panorama can't wait for Volare to close in order to get their routes/passengers, so putting their boss as a supervisor for Volare is not such a good idea, lots of conflict of interests.

Post by **sn26567** » 24 Nov 2004, 09:09

By the way, and for those of you who have forgotten, the Volare bankruptcy is the latest one in the long story of the Swissair affiliates debacle.

Volare too used to be controlled by Swissair...

almayer · Post by **almayer** » 24 Nov 2004, 09:47

sn26567 wrote:By the way, and for those of you who have forgotten, the Volare bankruptcy is the latest one in the long story of the Swissair affiliates debacle.

Volare too used to be controlled by Swissair...

Correct, they used to be part of Qualiflyer. Ah, what a nice network...

SN30952 · Post by **SN30952** » 24 Nov 2004, 12:12

Volare Group was informed as early as 2002 about its financial problems by its auditors, Deloitte & Touche, the accounting firm said after Italy's financial police raided the airline's offices.

The audit showed that Volare Group was in a problematic financial situation and that continuing the company's activity and recovering its asset value depended on finding new financial means to implement the board's strategy.

And do I hear the wings of the vultures?
Ryanair said it would present plans today for expansion in Italy in the wake of Volare's collapse.