Fresh capital, international partners likely for an “improved” Alitalia
25 Jun 2008
Milan: Embattled Italian flag carrier, Alitalia SpA's financial adviser, Intesa Sanpaolo bank, is working on an industrial plan to save the airline, including an injection of fresh capital and likely international partners, news reports quoted the carrier's chairman as saying Wednesday.
Alitalia chairman, Aristide Police, said he would meet with the chief executive of Intesa Sanpaolo, Corrado Passera, by Thursday, agencies reported. "I am certain that by the end of July we'll have a full perspective, one that I'm certain will be shared by unions," Police was quoted as saying by ANSA.
Meanwhile, civil aviation regulator, Enac's president, Vito Riggio said that the Italian carrier appeared to be on a firmer financial footing, thanks to the recent 300 million euro bridging loan from the government. The regulator had threatened Alitalia with possible suspension of its operating licence in April this year, asking it to meet an EU requirement to show sufficient liquidity for 12 months.
On Wednesday, Riggio said Alitalia's situation 'seems improved.' He was speaking to reporters after his meeting with Alitalia chairman, Aristide Police.
''With respect to the last time, the bridging loan and the presence of the adviser are two elements that are a guarantee for the more immediate future,'' Riggio said, referring to the carrier's troubles at the start of the year.
Riggio said the 300 million euro bridging loan 'is a clear guarantee' for this year. He said that the company's performance was improving and also that summer season ticket sales were going 'well'.
