Alitalia
Lufthansa CFO announced they have no intention of buying Alitalia
Norwegian have said they don't intend to buy any Alitalia assets
Italian State Railways have said they are not interested
Italian Govt are to arrange a 6 month bridging loan - presumably to ensure an orderly period while everyone decides what to do and presumably keep the tourists coming over the main tourist season
Norwegian have said they don't intend to buy any Alitalia assets
Italian State Railways have said they are not interested
Italian Govt are to arrange a 6 month bridging loan - presumably to ensure an orderly period while everyone decides what to do and presumably keep the tourists coming over the main tourist season
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Italy, as a state, is effectively bust. However it's widely known that it's economy is too big for the EU, or to give it it's other name Germany, to bail out.The Italian state cannot afford to bail out Alitalia nor can it afford to let it go. They hope by kicking the can down the Piazza they can buy some more time to figure out another complicated way to pour money down their unique pan. The EU will look on but take no action for fear that things may become worse..House of cards indeed..
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They have to turn it down, and all concerned must know that.
They'll presumably be looking to use the time before it happens to get a replacement organised, but after what happened with Estonian Airways and Estonia getting caught off guard they'd be wise to be quick about it!
They'll presumably be looking to use the time before it happens to get a replacement organised, but after what happened with Estonian Airways and Estonia getting caught off guard they'd be wise to be quick about it!
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Selling Heathrow slots might give them a short-term lifeline? 5 (at least) return slot pairs per day must be valuable, unless the Administrators will do that for them?
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Expect a classic judge. Somehow money will be found. Backroom deals to find private funds. Perhaps a few very interesting promises to affomentioned funders from Rome in exchange for keeping the wheels turning.
Alitalia has more lives than a plague of cats!
Alitalia has more lives than a plague of cats!
Board has asked for Alitalia to go into special administration. Commissioners to be appointed to see what can be salvaged. Flight operations continue for the time being
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Alitalia starts bankruptcy proceedings
Alitalia to enter bankruptcy proceedings - BBC News
Wonder what one of it's major recent financial backers (cannot name in compliance with forum rules - but read the linked article) makes of this???
Some of their other tie-ups also don't look too clever. Air Berlin, for example.
Wonder what one of it's major recent financial backers (cannot name in compliance with forum rules - but read the linked article) makes of this???
Some of their other tie-ups also don't look too clever. Air Berlin, for example.
Last edited by Dubaian; 3rd May 2017 at 11:39. Reason: Thank you mod for sorting out title spelling
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Yup, airberlin just posted a 782 million loss for 2016. However, they have diversified a bit with Lufthansa having a very vested interest in that company as they operate 38 aircraft in a wetlease deal for Eurowings and Austrian. Apparently one Mr. Spohr, CEO of said Company, accompanied Mrs. Merkel on her middle east tour, especially to Abu Dhabi on the last weekend.
short flights long nights
Report says they have received 7 billion in State Aid over last 10 years. I thought that was not allowed in the EU.
I wonder what has happened to Etihad's investment in Alitalia. How much was it overall ? Presumably that is just lost. In which case the Sheikhs will be more than a little aggrieved.
On the other hand, if they have been leasing 8 Heathrow slot pairs to Alitalia, presumably for a song, that is a significant security on the investment. Guess that what remains of Alitalia in the future will be making an increased presence at London City.
On the other hand, if they have been leasing 8 Heathrow slot pairs to Alitalia, presumably for a song, that is a significant security on the investment. Guess that what remains of Alitalia in the future will be making an increased presence at London City.