V-Flyer

http://www.forbes.com/afxnewslimited/fe ... 98511.html

New contracts deemed 'unacceptable'.

Now, I know it's easy for me to sit here and spout opinion, and from here it does look like turkeys voting for Christmas, but I can't help but think that they don't grasp the seriousness of Alitalia's position. But then again, why should they? When the Italian government comes along and props them up every now and again.

My feeling is that if the Italian government walks away (unlikely as it may seem) Alitalia could be another DanAir - sold for a 1.00, or should that be 1.00... and then all it's best bits (Heathrow slots for example) transferred to 'better' routes... (especially when the rescue plan has also been presented to BA)

It's actually a pretty simple principle they have to work under.

Vote yes or in a month or so the airline shuts down and Air One takes over...oh and nobody has a job.The Italian government is done, the EU is going after them for the 300M Euro loan they gave AZ last year.

It sucks for the employees, but for years they have hamstrung AZ with their work rules.

The plan is shocking. They've pitched creating an airline with no competition on the Milan-Rome route, and a completely revised labor arrangement. It is a license to print money for the folks they have brought in to invest. Pretty much the only way they could get anyone, in fact, to invest: Milan-Rome is about the only thing they could create a monopoly on, the only purely lucrative route potentially remaining in the portfolio.

They do, indeed, need to let the company fail or be bought out on standard terms. In fact, the deal that was almost put together with Air France was not half bad for them, but deemed politically unacceptable by our alleged right wing leaders, who then proceeded to create monopolies, not to mention float the idea of offering all laid-off airline workers jobs somewhere else in government. The EU is trying to go after them for this BS ... not as easy for it to act in these situations as we would like it to be, though. There's all kind of ways to circumvent the directives, or at least Italy always seems to find them ...

Pope is now praying for Alitalia

Alitalia are the official carrier of the Vatican City so I'm sure he is praying for them or it will be no more free jollies.

Iain

If they don't sort something out soon, they'll be the first of the National Carriers to fail. Not good news!

Looks like the bankers have pulled out of talks

LINK

...tick, tock...

Originally posted by Sealink
Alitalia's last stand

At least the Pope gets to fly Air France home, so he's OK (usually Alitalia on the way and the host country's airline on the return)!

Some unions have agreed to the 'new' Alitalia plan, but not pilots or cabin crew. Yet.

So ... 1 hour to go. Apparently the unions have to give their decision in by 1450BST as CAI have convened a board meeting to hear the final outcome at 1500BST.
Looks like we're finally in the bottom of the ninth ...

Almost the end link

Was going to start a new topic for this but thought would be better in here, although maybe a title change is needed.

Now Breaking on Sky News.

AZ have been given 10days from Monday to find a way forward or they will be grounded by the Italian Aviation Authority.

BBC reports that 20 to 30 flights have been cancelled and the Italian CAA have given then 10 days to come up with a viable rescue plan or they'll be grounded.

http://newsvote.bbc.co.uk/1/hi/business/7625146.stm

10 days? Blimey. This airline doesn't know the meaning of the word deadline!

So who is paying the fuel bill for the next 10 days ?

Shhhh They've done a deal with Fat Tony... [:)]

I think for everyones sake, just let the airline collapse and start again.
http://news.bbc.co.uk/1/hi/business/7328319.stm

As Alitalia writhes like a fish out of water, gasping for breath, the administrator prepares to sell off the family silver. I mean fish. Silver fish. Yes.

http://www.reuters.com/article/ousiv/id ... 3020080921


Love mixed metaphors.

Alitalia Press Release

Below is the text to be issued tomorrow, 23 September 2008, in the following newspapers: The
Financial Times, Corriere della Sera, Il Sole 24 Ore, la Repubblica.

The Extraordinary Administrator of Alitalia Linee Italiane S.p.A. in a.s., of Alitalia
Airport S.p.A. in a.s., of Alitalia Express S.p.A. in a.s., of Alitalia Servizi S.p.A. in a.s. and
of Volare S.p.A. in a.s., Prof. Avv. Augusto Fantozzi

Whereas

- Alitalia Linee Aeree Italiane S.p.A., Alitalia Airport S.p.A., Alitalia Express S.p.A.,
Alitalia Servizi S.p.A. and Volare S.p.A. are subject to the procedure of Exstraordinary
Admistration pursuant to Law Decree No. 134 August 28, 2008;

- such procedure contemplates the possibility to sell, in private transactions, of all or
part of the company's assets or productive activities, defining the contents of one or
more ongoing concerns, also currently not existing, with identification of the
employees to be transferred to the purchaser, and even with prior inclusion of such
employees in a special unemployment benefits fund (cassa integrazione guadagni
straordinaria) or with termination of the current employment relationship and hiring by
the purchaser;

- the foregoing sale may exclude, in whole or in part, the liability of the purchaser for
the debts relating to the activities of the transferred ongoing concerns existing before
the transfer date and in any event cannot set forth a price lower than the price
determined by an independent expert appointed by the Ministry of Economic
Development;

- the sole significant offer received and on the basis of which activities to engage in a
private transaction were commenced, has been revoked;
2

- therefore the Extraordinary Administrator intends to verify the existence of other
interested entities that may guarantee the continuity, in the medium term, of the
transportation service, the speed of the transaction, and the compliance with the
requirements set forth under Italian laws, including the treaties to which Italy is part.

Now Therefore

The Extraordinary Administrator Ð taking into account the needs and urgency
mentioned in the D.P.C.M. of August 29, 2008 - invites whoever might be able to
guarantee the continuity, in the medium term, of the transportation service, the speed
of the transaction and the compliance with the requirements set forth under Italian
laws, including the treaties to which Italy is part to submit its expression of interest for
the purchase of one or more ongoing concerns, also currently not existing, of Alitalia
Linee Aeree Italiane S.p.A. in a.s., of Alitalia Airport S.p.A. in a.s., of Alitalia Express
S.p.A. in a.s., of Alitalia Servizi S.p.A. in a.s. and of Volare S.p.A. in a.s..
Such expressions of interest shall have to be received at the offices of the
Extraordinary Administrator, at Via Marchetti 111, 00148, Roma, within 30 September
2008, 12.00 a.m., together with all the documents necessary to evaluate such
expressions of interest in view of starting potential negotiations.


Prof. Avv. Augusto Fantozzi
Extraordinary Administrator of Alitalia Linee Aeree Italiane S.p.A. in a.s., of Alitalia
Airport S.p.A. in a.s., of Alitalia Express S.p.A. in a.s., of Alitalia Servizi S.p.A. in a.s.
and of Volare S.p.A. in a.s.


Rome, 22 September 2008

Does that mean they have gone bust and are being sold off or have been bought out?

Bye Bye Alitalia!

They are clearly in some serious problems.

There seems to be about 5 different companies involved. This is obviously done to stop them all going under if one goes. This has not worked in this case.

I am sure LH are rubbing their hands, getting ready to snap up all the good bits.