Alitalia, here are the commissioners: the bridge loan of 600 million for six months. Calenda: “Attentive to citizens ' money”

Published on May 03, 2017

The minister for Economic Development Carlo Calenda has prepared today with the decree, the admission of Alitalia to the extraordinary administration according to the law decree Marzano. With the same decree, the state appointed a board of commissioned, composed by Luigi Gubitosi, Enrico Laghi and Stefano Paleari. Alitalia, here are the commissioners: the bridge loan of 600 million for six months. Calenda: “Attentive to the money of the citizens”. “We will seek as a priority the fact that you buy the entire company in a context in which you need to relaunch it”. He said the minister of development Carlo Calenda, speaking of Alitalia to Radio Anch'io. “Today there are negotiations on the table, the commissioners must prepare a programme and it is expected that within 15 days they begin to open to expressions of interest”. “When will the we will evaluate,” he added Calenda, indicating the need for “an alliance with a company of air transport”. Then about a possible State's share in Alitalia also proposed by the former premier Renzi: “The Government has ruled out the nationalization of Alitalia, " he explained, and I believe that the citizens, who paid 7.5 billion, this bridge loan, then 8 billion” for Alitalia, “are very careful how they are used their money and we have to be very careful how they are used,” said the minister. The 600 million bridge loan granted by the State to Alitalia are a “necessary evil, inevitable, why put the aircraft on the ground from evening to morning would cost much more to taxpayers”. Calenda, has observed that “there are 4.9 million tickets Alitalia and the airline has a significant market share in the country”. The “600 million we need to prevent a worse situation from the points of view economic,” said Calenda, explaining that the figure is higher than expected (the minister had estimated 1 billion of costs this year): “these will be six months of the administration that there will be 100 million more than expected because the Iata has asked 128 million security deposit”, the minister concluded. Alitalia commissariata. To save 600 million and 6 months. Adventure over, after two years and 4 months since its launch, the first of January, 2015, Alitalia by Etihad. The former flag carrier's back, for the second time in its history (already happened in 2008), in extraordinary administration. To ride it will be three commissioners: Luigi Gubitosi, Enrico Laghi and Stefano Paleari. And to maintain operations in the coming months, the Government has granted a bridge loan of 600 million. All set then for the passengers, the flights and the operations of Alitalia – ensures that the company will not be affected and will continue according to the scheduled programming. To ensure the continuity of the company was the main concern of the Government. Who spoke “not only on the explicit request of the shareholders ' meeting” but as “an act of responsibility of the person who has to ensure some basic services,” explained the premier Paolo Gentiloni at the end of a cdm dedicated the “monograph” to the affair Alitalia. The choice to put the aircraft on the ground today, would have had “impact heavy”, reiterated the minister for economic development Carlo Calenda, remembering that Alitalia has “4.9 million of bookings in the foot and transports 2 million passengers per month”. ”It is a challenge of the most serious among those she faced in her existence, by which we are convinced that you will come out stronger,” said Gubitosi, who has followed all the last steps of each other. To the company, the Government has secured a “bridge of continuity” with the administration and a “loan expensive” 600 million for six months, a scenario with which not arises, however, stressed the premier, no chance of re-nationalisation: “we have excluded from the first moment and we exclude today”. Unlikely also the possibility that the State put more money, as clarified by Calenda: 600 million, that are market conditions (Euribor +1000 basis points), defined with the Eu, “are the maximum that today is to be able to foresee and do.” For commissioners, there is a mandate, “clear”, a “broad spectrum” but “limited” in the times (6 months), " he explained Calenda, stating that in a matter of a short time will open to expressions of interest from potential buyers. The goal is to “work on a business plan to allow Alitalia to find partners capable of investing and remedy weaknesses in the historical does not depend on the presence of the low cost, but strategies are wrong,” said transport minister Graziano Delrio. “We are convinced that the market will be able to find interested investors and the State will do its part,” he added. The trade unions, who see in the territorial continuity of space to find alternative roads to the settlement, they hope that the work of the commissioners does not lead to the sell-off but also the search of new investors and the consequent revival of the company. The decision of the company to request access to the extraordinary administration, already drawn a week ago by the board of directors met immediately after the victory of the No in the referendum, it came in the course of a double-step formal, before the meeting of the members and then the board of directors, who met in the morning via conference call. The council, having taken note of the “serious economic situation and financial position” of the company, to the weakening of the support of the members and the impracticality in a short time of alternative solutions, decided unanimously to submit an application for admission to the extraordinary administration procedure. The shareholders, at their meeting just before the assembly, expressed “great regret” for the outcome of the referendum that has “precluded the implementation of the relaunch and restructuring of the company”, for which the members were willing to finance the industrial plan for € 2 billion. Regret was also expressed by a member of the arab, Etihad, who in 2014 with an investment of 560 million became the owner of 49% of the Italian company. “We have done everything in our power for the support of Alitalia's shareholder, the minority, but it is clear that the company needs a restructuring, and on a large scale in order to survive and grow in the future,” he said as the number one company in Abu Dhabi, James Hogan, in 2015, promising to make of Alitalia a company and sexy, five-star hotel. (ANSA)

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