For the time being, the main purpose of Alitalia’s Newco is to prepare a business plan that will then be examined by the European Union. If rejected, the only way forward will unfortunately be liquidation.
An Alitalia A330 landing at Miami International Airport. Photo by Karam Sodhi | AeroNewsX
With a share capital of 10 million euros (against the 3 billion allocated by the "Cura Italia" decree to relaunch the carrier) the company is set up for the sole purpose of drawing up a business plan. The Italian government designated the top management, including Managing Director, Fabio Maria Lazzerini, and President, Francesco Caio and gave them just one month to set up the document and send it to the European Commission for approval.
Unsurprisingly, the company’s management is working extremely hard in making the relaunched Alitalia successful, sources confirm to AeroNewsX.
The liquidation of the Newco would force the Italian Government to choose between two options: Either, decide to continue with extraordinary administration, granting another billionaire loan and face yet another dispute with the European Commission on State aid.
The other option would be to close the airline, laying off about 11 thousand people and leaving the country's air transport in the hands of the free market.
The business plan remains in draft form and the urgency to submit the document does not seem to be a priority for the Italian Government.
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