I have heard a rumour that the AZ pilots not taken into the new company will receive 80% of basic salary for 7 years as compensation
If true, I'm not surprised they signed up to it. The financing of it must make interesting reading
That's the whole point. The Italian Government (aka the taxpayer) gets to absorb all the bad assets, acculutaed losses and retrenchment costs, which explains the 2 Billion Euros price tag. Coversely, Uncle Sylvio and the boys walk away with the good assets at a discount, then start to cash out immediately by selling a minority stake to LH at a marked up price. All this so that this national treasure can remain in Italian hands, which is simply a red green and white smokescreen to appease the masses.
The bailout (Calling a spade a spade) of 2 Billion Euros, the third such bailout of Alitalia, is also against EU law and explains why Ryanair have registered a formal appeal to the EU.