Italian government and CAI meet again; speculation on revival of bid
25 Sep 2008
The Italian government again met with executives of the investor group CAI yesterday, marking the third meeting in two days and fanning speculation that CAI may revive its bid for Alitalia.
Government appointed liquidator Augusto Fantozzi expressed ''reasonable optimism'' about a possible agreement between CAI and Alitalia's unions. He said that it could be possible that the agreement becomes a reality by the end of the month, according to reports in the Italian media.
Vito Riggio, the head of the Italian aviation authority ENAC had said a few days ago said that Alitalia's licence to fly could well come to an end within three or four days, adding that without a credible financial plan Alitalia's temporary licence to fly will be withdrawn.
Alitalia's bankruptcy protection request is a necessary part of the rescue plan devised by Italian banking giant Intesa Sanpaolo, which was given the mandate by the Italian government to act as an advisor for Alitalia.
In its advisory capacity, Intesa said that the carrier should be split in two, with the potentially profitable assets being sold to a new company that would be formed by a consortium of Italian investors.
A report by Reuters quoted a spokesperson from easyJet as saying that the airline could step in at short notice and add several Italian routes in the event of the total collapse of Alitalia.
The report said that easyJet would expect to be awarded airport slots in return, and would step in ''at very short notice, to move into routes the Italian government cares about most'', by committing around ten aircraft.
