Countdown to the industrial partner that will join the Alitalia Newco. Today in the day, in a new conference call with the commissioners (Enrico Laghi, Stefano Paleari, Daniele Discepolo), Gianfranco Battisti and Giancarlo Guenzi should take stock of the situation two days before the week's deadline extension.In the last hours, the letter from Delta Airlines would have arrived to Fs which would have confirmed the commitment of the US carrier to invest up to 100 million for a share that could be 12.5% considering that the starting capital would be 800 million. And from Ed Bastian, Delta's ad there would be, in writing, the willingness to review the perimeter of the business plan on which the Americans clashed with Atlantia. Yesterday in the late afternoon, the Lufthansa Vorstand met, which should make its decision this morning. According to some sources, the Frankfurt summit confirmed the position already expressed by Carsten Spohr: commercial agreement and subsequent intervention in the equity only within a Newco cleaned up against the extraordinary procedure. "The right business partner" counts, not the money, Spohr said recently.
But time is running out. The seventh extension expires the day after tomorrow and a new mini-slip may be possible. "The date of November 21 is a very important term for us – Laghi said two weeks ago during the Chamber hearing – if there was a minor shift, subject to the deadline of March 31, 2020" for the transfer of assets, "It would not have a theme of dramatization to be implemented". For Thursday 21 the councils of Fs and Atlantia would have been alerted to formalize a decision, given that the deadline expires on the same day.
In the meeting between the commissioners, Fs and Atlantia last week, Battisti promised to send a letter to the procedure and to the Mise, probably with the establishment of the consortium. If this were the case, the commissioners could draw on the 400 million bridge loan to ferry Alitalia to the closing.
It was said of the letter from Atlanta, the capital of the state of Georgia, where it has its Delta headquarters. In addition to the financial aspects, the top management in the USA would have opened the revisions to the business plan on which it would be opposed to Atlantia, which considers the Lufthansa solution to be more advantageous in the long term even if it envisages a smaller Italian company, with 95 aircraft and about 5 thousand redundancies with the entry into the Star Alliance against the 102 aircraft and the 2800 redundancies of the Fs-Delta plan.
Delta would be willing to increase routes to North America, as the motorway group presses, with greater guarantees also in the alliance in Blu Sky, recognizing a commission on co-sharing flights. The New Alitalia therefore would not have the role of first-level partner at the start but only because the Italian carrier has been in extraordinary administration for over two years.
In short, finally after 13 months it seems possible to approach the finish line. "We are at the decisive moment, but we do not yet know who the industrial partner will be" reveals a very authoritative source close to the dossier.
© REPRODUCTION RESERVED