Alitalia saved by the Government and reborn as ITA Airways
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Re: Alitalia near bankruptcy. Can it be saved?
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.
Any future buyer of Alitalia will not have to bear the repayment of the 1.3 billion of the bridging loan.
Re: Alitalia near bankruptcy. Can it be saved?
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.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.
Example:
https://ec.europa.eu/commission/pressco ... /IP_20_313
Re: Alitalia near bankruptcy. Can it be saved?
I repeat passenger the EU will not move here for political reasons.Passenger wrote: ↑28 Feb 2020, 11:42That 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.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.
Example:
https://ec.europa.eu/commission/pressco ... /IP_20_313
Hasta la victoria siempre.
Re: Alitalia near bankruptcy. Can it be saved?
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
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
The above 400M is most probably about this "loan", agreed by the Italian Senate on 1th Febr 2020: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
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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.
Re: Alitalia near bankruptcy. Can it be saved?
Reducing frequencies on 38 routes is a first step in the right direction!
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
Official press release European Commission (02/03/2020):Passenger wrote: ↑29 Feb 2020, 22:04The above 400M is most probably about this "loan", agreed by the Italian Senate on 1th Febr 2020: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.htmlIn 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.
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.
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Re: Alitalia near bankruptcy. Can it be saved?
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
Re: Alitalia near bankruptcy. Can it be saved?
2019TLspotting 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.
Hasta la victoria siempre.
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Re: Alitalia near bankruptcy. Can it be saved?
2020. OOPSIElumumba wrote: ↑06 Mar 2020, 21:472019TLspotting 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.
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting
Re: Alitalia near bankruptcy. Can it be saved?
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.luchtzak wrote: ↑10 Mar 2020, 09:14 Italy is being placed in complete lockdown over coronavirus fears
https://www.aviation24.be/miscellaneous ... rus-fears/
Re: Alitalia near bankruptcy. Can it be saved?
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
Re: Alitalia near bankruptcy. Can it be saved?
Re: Alitalia near bankruptcy. Can it be saved?
Hopefully they do so....
Hasta la victoria siempre.
- cathay belgium
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Re: Alitalia near bankruptcy. Can it be saved?
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? , ...
CXB
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? , ...
CXB
New types flown 2022.. A339
Re: Alitalia near bankruptcy. Can it be saved?
But Alitalia is a "Tonneau of 60.000.000 Danaïdes" !
I don't have a translation for the expression "Tonneau des Danaïdes"! Sorry
I don't have a translation for the expression "Tonneau des Danaïdes"! Sorry
- cathay belgium
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Re: Alitalia near bankruptcy. Can it be saved?
Hi,
It all depends on who's drinking from the other end of ' le tonneau'
CXB
It all depends on who's drinking from the other end of ' le tonneau'
CXB
New types flown 2022.. A339
Re: Alitalia near bankruptcy. Can it be saved?
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.
Rome was planning an immediate intervention in favour of the air transport industry worth €500 million, followed by other measures worth €3 billion.
André
ex Sabena #26567
ex Sabena #26567
Re: Alitalia near bankruptcy. Can it be saved?
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.
Both Willie Walsh (IAG) and Johan Lundgren (U2) said the EU should not allow bailout but should provide temporary credit lines.
Re: Alitalia near bankruptcy. Can it be saved?
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. .
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.