We should know later today the names of the participants in the rescue plan of Alitalia, ending a suspense that has lasted for several years.
Alitalia has been in bad shape for years and has been under court administration since 2017, Delta was approached as a buyer and then took a step back, as did Easyjet before China Eastern showed interest. In short, we have been waiting for a year to know who has been appointed to take over the Italian airline, a decision that has been constantly postponed.
According to the latest news, we should know in the next few days or even in the next few hours.
10% of Alitalia for Delta, 40% for Atlantia
Delta would therefore take a 10% stake in Alitalia. The airline of the skyteam alliance thus patiently continues to expand like an octopus within its partners, especially in Europe. It would be the only airline to participate in the operation. Out goes China Eastern, which would have been “compatible” in view of its membership of Skyteam, out goes EasyJet and Lufthansa.
A logical decision: since the conditions set by Lufthansa Group were unacceptable to the government (total control and massive layoffs), Delta was the only credible option.
If the identity is not a big surprise, the amount is. 10% is not much and it surely means that the American airline did not get all the guarantees from the Italian government that it could really have a say in the company’s strategy.
Knowing that the national railroads Ferrovie dello Stato will take 35% of the capital and the Ministry of Economy 15%, it is 40% of the capital that remains to be allocated.
Atlantia, the holding company of the Benetton group which already owns Autostrade per l’Italia and Aeroporti di Roma, is expected to acquire the remaining 40%.
A much healthier bride
A nice operation for the new shareholders because Alitalia is doing much better than before. By focusing on its higher margin activities and on the premium and business segments, it has experienced an uninterrupted increase in passenger traffic since the beginning of the year.
Photo : A320 Alitalia by Tupungato via Shutterstock
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