Alitalia, from commissioners and Patuanelli "perplexity" on the postponement, on arrival conditions – Repubblica.it

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ROME – We are moving towards a conditional extension for Alitalia. The request of at least another eight weeks advanced by Fs and Atlantia has in fact encountered the doubts of both the commissioners and the Minister of Economic Development Stefano Patuanelli, who has the final decision on the extension. This is why the commissioners now demand a greater role, requesting to have a "direct and immediate dialogue with the offerer". And at the Mise they say that on the final evaluation "the letter from Atlantia will weigh at this point", that is the letter of 2 October, in which the company linked the Alitalia dossier with that of the concession.
The reaction of the ministry on Via Veneto was leaked after the arrival of the awaited letter from the commissioners, who for days evaluated the requests of Fs and Atlantia to have at least another 8 weeks to present the binding offer. The letter expresses the perplexity of the commissioners who, according to Mise sources, is also shared by the Minister Patuanelli, doubtful about the failed presentation of the offer and the request "judged dystonic with respect to the same request for a previous extension, which asked for a postponement to October 30 ". The commissioners' letter is then read as "the point of no return" by Mise, which reveals that "a possible extension will be subject to conditions".The decision of the government in recent days to insert a new 350 million bridge loan in the fiscal decree was already suggesting that we go towards a new extension: the new tranche, necessary for six months for "undelayable managerial needs", leads to 1 billion and 250 million of the total liquidity paid in almost two and a half years from the state coffers in the Alitalia tank. Once the new term has been formalized, the negotiation will necessarily restart from the "in-depth analysis" requested by both Fs and Atlantia. In particular we look at Delta, which has said it is ready to enter the New Alitalia with 100 million, but from which the Italian partners expect it to bring its commitment to a "significant quota", higher then the current 10%. From this depends also the definition of the shareholding structure of the newco, in which Fs and Atlantia will have instead a minority share (if Delta rose to 12-15%, they would have 35-36.5%, next to the remaining 15% of the Mef ). Finally, the issue of governance and the choice of top management must be resolved. The possible involvement of Lufthansa, who has not yet gone beyond the mere availability to a commercial partnership, remains on the stand by now. Even if the pilots 'and flight attendants' abbreviations gathered in the Fta request to "deepen in detail the potential availability" of both possible partners. The final definition of the industrial plan remains on the table, with delicate themes such as that of redundancies (up to 2,800 would be requested). On which in the coming months will focus the union negotiations. The months following the signing will also be used for the necessary Antitrust authorizations.

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Topics:
Alitalia
Commissioners



Source link
https://www.repubblica.it/economia/2019/10/21/news/alitalia_commissari_e_patuanelli_perplessita_sul_rinvio_in_arrivo_condizioni-239142112/

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