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Alitalia: 14 indicted for bankruptcy

Preliminary hearing date set for May

The Judge for the preliminary hearing of the Italian Court of Civitavecchia identified the date of May 8 for the first appearance of the accused in the trial of the financial failure of the former national airline Alitalia. In the courtroom there will be those who held top positions in the 2015-2017 two-year period. The crimes alleged for various reasons are those of aggravated fraudulent bankruptcy, false corporate communications, obstacles to supervision.

Among those indicted are the ex-president Luca Cordero di Montezemolo, the members of the board of directors Roberto Colaninno and Giovanni Bisignani and another 11 among ex-directors and officials of the Italian airline. According to the public prosecutor Mirco Piloni: the accused "with multiple executive actions of the same criminal design, providing indication of positive data that differ from the truth and allowing the progressive increase in debt exposure, caused or in any case contributed to causing the failure of the company, even aggravating it".

Judges are examining some decisions taken in the two-year period, including discrepancies on the accounts, alleged waste, opaque operations: from the entry of Etihad in 2015 with 49% of the share capital that led Alitalia-Sai (Italian airline, Ed). To accumulate losses for over one billion euros, at the underestimated value for the Rome / London-Heathrow route sold to Etihad with an alleged bogus capital gain of around 39 million euros recognized in the 2016 financial statements to hide the decline in equity.

The current special commissioners of Alitalia, Giuseppe Leogrande, Daniele Santosuosso and Gabriele Fava, represented by the lawyer Roberto Borgogno, after opposing the partial dismissal, entered a civil party in the process to protect the creditors of the former flag carrier, for obtain acknowledgment of damages.

Gic - 1246916

AVIONEWS - World Aeronautical Press Agency