The situation is serious, Alitalia will be commissariata. Hogan: “Made”

Published on May 02, 2017

The Board of directors of Alitalia has unanimously adopted a resolution to submit an application for admission to the extraordinary administration procedure as set forth by the law. It is the company at the end of the board meeting, which was held after the Meeting of the shareholders of the company. The situation is serious, Alitalia will be commissariata. Hogan: “Made possible”. Via free unanimous by the board of directors to the commissioner of Alitalia. Met at the end of the shareholders ' meeting, unanimously decided to submit an application for admission to the extraordinary administration procedure, as provided by law. “The members had conditioned the availability of the ripatrimonializzazione and the refinancing agreement with the trade unions, came less with the outcome of the referendum among the employees,” reads a note from the airline. Flights and operations will not be affected and will continue according to the schedule, reads a note published at the end of the board of directors of the company. The Ministry of economic Development, according to what is learned from government sources, is currently working on the decree to open the procedure of extraordinary administration-request from Alitalia, and at the same time to appoint the commissioners. The appointment is expected to the Council of Ministers in the afternoon. While the ministry of Economy is reportedly working on a decree that defines the terms of the loan, a bridge, from the initial figure of 300-400 million may be closer to 500 million. In the meantime, is expected at around 17 and the Cdm, to the Palazzo Chigi, will share the two decrees on Alitalia for the appointment of commissioners and for the bridge loan. Regret, “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”. And’ so says James Hogan, of Etihad in a note, stating that “without the support of all stakeholders in this restructuring process, we will not be able to continue to invest. For this reason, we support the decision of the board of directors to request admission to the extraordinary administration”. “The strategy initially developed by Alitalia at the time of the investment Etihad and implemented by 2015 has led to significant improvements,” he said in a note to the Ceo and president of Etihad, James Hogan, and “our investments, together with those of other shareholders, have helped to protect thousands of jobs in the last three years.” And states that: “Italy remains an important market, and we will continue to work with Alitalia as a business partner, in addition to our direct presence in Italy”. (ANSA)

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