Alitalia filing for bankruptcy

[patrick@tediek.com]

I just read in the dutch media that Alitalia filed for bankruptcy. According to the article in the Telegraaf, Berlusconi changed the law so it enables them to split the company in a healthy and unhealthy part for liquidation and investment vehicle, but to remain in Italian ownership and control.

[Nozem]

En hier de link naar het forum van Airliners.net

http://www.airliners.net/aviation-forum ... n/4121506/" onclick="window.open(this.href);return false;

Greetings Ton

[Rockville]

Alitalia 'running out of fuel'

Italy's national airline, Alitalia, may have to cancel some flights because of a lack of funds to buy fuel, a top official has warned.

Augusto Fantozzi, Alitalia's bankruptcy administrator, made the comments as he called unions to emergency talks a day after the latest session broke down.

The unions earlier quoted him as saying flights could not be "guaranteed" because we cannot "get fuel".

Prime Minister Silvio Berlusconi blamed "political" motives for the failure.

He said he would do all he could to save Alitalia from collapse.

"The executive is always ready... to give all the possible support to get to the only solution possible to avoid the airline going bust," he said.

Alitalia later issued a note it said was sent by Mr Fantozzi, which said: "There are difficulties relating to the supply of fuel which could put some flights at risk," Reuters news agency said.

Italian investment consortium CAI, which was poised to take over the company's profitable parts, walked away from talks with the unions on Friday, accusing them of intransigence.

CIA chief executive Rocco Sabelli said on Saturday it was not ready to make any further concessions.

Story from BBC NEWS:
Published: 2008/09/13 15:19:17 GMT

[JS50557]

According to sources on the net Alitalia can't guarantee flights after Sunday due to lack of funds to buy aviation fuel.

[DG AIR]

Op Airliners wordt gemeldt dat CAI zich heeft teruggetrokken en dat Alitalia dus definitief failliet zou zijn.

Iemand al meer info?

gr.

Ger

[Coati]

http://www.corriere.it/" onclick="window.open(this.href);return false;

Here is a message about the CAI. They are ready to withdraw the offer, only a formal vote has to be done. The counterproposal is not considered at all.

[patrick@tediek.com]

Could this mean they are gronded as of then?

[flying_kiwi]

Could this mean they are gronded as of then?

No.
They are currently under bankruptcy protection (Italian version of the US Chapter 11), and they'll continue to operate for as long as they have that. It's now in the hands of the judge who granted the bankruptcy protection, as he is the one who will make the final decision as to whether/when to liquidate the company.
That could be tonight, but it could just as easily be next week.

Regards,
Yorden

[Rockville]

Consortium withdraws Alitalia bid

The business consortium proposing to rescue Italian airline Alitalia has withdrawn its offer in the face of union opposition.
The CAI consortium had given the nine unions until 1400GMT to accept the deal, but not all of the unions were in agreement.
Five of the unions had said they were opposed to the CAI offer because it proposed 3,000 job cuts.
There are now fears Alitalia could go into administration.
It has already warned that it is running out of funds to buy aviation fuel.

Story from BBC NEWS:
Published: 2008/09/18 15:39:11 GMT

[aviodromefriend]

Prime Minister Silvio Berlusconi blamed "political" motives for the failure.

WHO said that about "political" motives

This was said by the man that made the AF/KLM deal impossible, because Alitalia wouldn't be italian anymore?

Dear Mr. Berlusconi,

Maybe you know something about running TV stations, but aviation is another kind of stuff!

[Nozem]

mmm
loosing some jobs (or even a lot)when they would have taken the offer from AF/KLM
OR
go for bankruptcy
mmm
Nice one Berlusconi

Sad that this happens to an airliner.....

Greetings Ton

[Rockville]

Alitalia airline cancels flights

Alitalia has cancelled a number of flights from Rome's Fiumicino airport, increasing fears that the carrier may soon go into liquidation.

The airline confirmed that a number of flights have been cancelled, but denied it had run out of aviation fuel.

On Thursday, a consortium withdrew a rescue offer for Alitalia due to opposition from trade unions.

Alitalia, which filed for bankruptcy protect last month, has already warned it is low on cash to buy more fuel.

Reports say between 20 and 30 Alitalia flights have been cancelled.

Alitalia told the AFP news agency that the move was caused by "technical reasons".

'No alternative'

The CAI consortium's takeover offer was backed by three of Alitalia's nine unions, but six opposed the plans, due to plans to cut 3,000 jobs.

The Italian government insists that the CAI deal is the only way for Alitalia to avoid liquidation.

"There is no alternative to CAI," said Labour Minister Maurizio Sacconi.

"We need to return to the negotiating table because there is no-one else in the race."

There were also reports on Friday that Italy's civil aviation authority may ground all Alitalia planes within 10 days from Monday unless the airline can show a new rescue plan.

Story from BBC NEWS:
Published: 2008/09/19 11:26:47 GMT

[ehusmann]

And now on nu.nl (only in Dutch), the license for Alitalia could be revoked within 4 days. If there will be no plan for restructuring the airline, the governing body can revoke the license, stopping all Alitalia flights.

There goes my last Alitalia A320

Erwin

[aviodromefriend]

There goes my last Alitalia A320

Try to find out where that particular one is going to be stranded, and get in your car

[patrick@tediek.com]

I just had a meeting with one of the General Sales Agents of AZ, they told me they pulled away from them as of Sunday night. No more sales support and handling being offered. It really seems to end now.