Alitalia: cuts, new tender notice and green light for "bridge-loan"
But it's necessary to wait for the approval by the European Commission
The surprises related to the Italian former flagship company never end: a new tender is launched by the Government accompanied by a cut plan to make the Italian carrier more attractive. The Council of Ministers approved the decree-law yesterday to unblock the bridge loan of € 400 million but it's necessary to wait for the Brussels approval. Deputy Development Minister Stefano Buffagni emphasizes the importance of restructuring and states: "otherwise it is unsellable, the facts say. Today we will intervene even with legislative changes, we will work to ensure occupational stability but also to make it competitive and attractive for the market because obviously without the public there are some problems".
Moreover, Lufthansa itself had stated that without a profound restructuring it would have no intention of making any investment (see AVIONEWS).
In the illustrative report accompanying the draft decree: "having acknowledged the lack of concrete prospects, it is considered necessary to intervene again on the issue by means of a new sale procedure, to be completed in a reasonably short time". It also specifies that cuts will be needed to "maximize the interest of potential buyers". The new deadline for the establishment of the new asset for May 31 is also established.
The Minister of Infrastructure and Transport Paola De Micheli intervened in this regard: "As you know we are hypothesizing a solution for the coming months that will allow us to make Alitalia more competitive. We will discuss it on the basis of the proposal that Minister Patuanelli sent us and the Italian Government has negotiated this decision with the Commission. We are trying to make of everything to relaunch a great Italian company and I believe that there are all the negotiating margins for the Commission to arrive at facing this dossier in the utmost peace of mind for the Italians, to give a solution to the problems, for the Commission, to stay inside to the European rules".
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