While Alitalia’s takeover project has reached an dead end and the airline’s liquidity is running out, the State has agreed to a new bridging loan of 400 million euros to ensure the airline’s survival until a buyer is found.
This loan is subject to “emergency measures” to build the “New Alitalia”. with the aim of a takeover without these measures being further detailed, but one can think that the Italian government has come to its senses, at least partially, and resigns itself to making the bride presentable (therefore downsized) before representing her to a Delta or a Lufthansa.
It should also be noted that a loan should not be considered a disguised subsidy under European law and that Alitalia is unable to repay the first loan of 900 million granted to it in 2017, the latter has been partially converted into capital that is to say that the airline does not reimburse in money but in shares.
At this pace, they are heading straight for nationalization in stages, the only credible outcome possible in the current state of affairs, as the State itself agrees.
In the meantime the unions have announced a strike on December 13. It was already planned for several weeks to urge the government to move forward on the issue, but it is doubtful that today the concept of “New Alitalia” and what it may involve will help reassure them.
Photo: Alitalia by Matheus Obst via Shutterstock
