Unions voted down recapitalisation plan [Merged future of Alitalia thread]
Mar 21, 2018, 8:22 am
#571
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I'm flying with alitalia in August and then December!
Apr 7, 2018, 10:14 am
#572
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Apr 8, 2018, 10:20 am
#574
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Possibly, just a coincidence. Recently, they signed other agreements as well (see the JV’s partnership with AR) hence I doubt this has anything to do with LH being behind the scenes (if that’s still the case at all).
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Apr 8, 2018, 11:33 am
#575
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One has to assume that there is effectively no risk for the partners in these deals. i.e. if it works out it's some extra revenue for them, if not they don't lose out. They'd be nuts to agree to take on any risk around the AZ basket case.
Apr 8, 2018, 1:33 pm
#576
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G
Apr 9, 2018, 1:19 am
#577
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Apr 9, 2018, 2:39 am
#578
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Well this is exactly my point. Unless ANA are idiots, they must have assured themselves that whatever happens to AZ, the consequences - including potentially leaving customers SOL - won’t cost ANA much financially or reputationally.
Apr 9, 2018, 2:44 am
#579
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), one would however assume that NH have a robust back-up plan in place and that, given the extended Italian network of their own Star Alliance partners (see LH from MUC/FRA, for instance), any sudden changes to AZ's current circumstances would be addressed without a great deal of trouble G
Apr 10, 2018, 12:54 pm
#580
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Given the never ending saga we (including myself) probably all forgot that today April 10th was the last deadline in order to forward the binding offers and, according to various press sources, Lufthansa is amongst the 3 (Alitalia confirmed the number of offers as well) who confirmed interest. I’ll try to post a link later as I’ve just got my pint served after a hard day at work here in Sarajevo 
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Apr 10, 2018, 3:19 pm
#581
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(ANSA) - Rome, April 10 - Lufthansa has presented an offer for Alitalia, sources said on Tuesday. A deadline for binding proposals for the former Italian flag-carrier ran out at 16:00 on Tuesday. EasyJet said Tuesday that it has presented "a revised expression of interest for a restructured Alitalia, together with a consortium, and consistent with EasyJet's current strategy in Italy". The low-cost carrier added in a statement that "considering the type of procedure, the content of this expression of interest remains reserved". The airline also stressed that "in this phase there is no certainty that a transaction will move forward" and said it will "provide further details at the opportune time".
Apr 10, 2018, 3:33 pm
#582
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In the meantime (as per Il Sole 24 Ore), AF confirmed that they are currently in talks with AZ and working towards a new, improved cooperation within the transatlantic joint-venture.
That aside and given the current political turmoil in Italy (nothing new there but there’s literally no government in charge as we speak), I suspect we may not see any significant change to the current state-of-play until at least the end of the forthcoming summer.
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That aside and given the current political turmoil in Italy (nothing new there but there’s literally no government in charge as we speak), I suspect we may not see any significant change to the current state-of-play until at least the end of the forthcoming summer.
G
Apr 11, 2018, 1:55 am
#583
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Given the never ending saga we (including myself) probably all forgot that today April 10th was the last deadline in order to forward the binding offers and, according to various press sources, Lufthansa is amongst the 3 (Alitalia confirmed the number of offers as well) who confirmed interest. I’ll try to post a link later as I’ve just got my pint served after a hard day at work here in Sarajevo
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G
EDIT: well, it seems the government are sticking to the timetable, but not going to react for some time.
Originally Posted by ch-aviation.com
As it stands, Il Sole 24 Ore reports Rome is now set to finalize plans to extend the deadline to October this year. The additional time will allow interested parties more time to assess Italy's new political landscape given the outcome of the election.
Last edited by irishguy28; Apr 11, 2018 at 2:05 am
Apr 11, 2018, 3:34 am
#584
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G
Apr 11, 2018, 8:14 am
#585
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I'm not entirely sure what the latest [political] developments are to be perfectly honest but, knowing (roughly) the agenda of both contenders/leaders (i.e. those who got most votes from the recent elections and who may well end up on the same boat in terms of forming a government together), I suspect they will not be particularly inclined to accept unbending restructuring plans (which the carrier desperately needs to survive and to compete, most of all) and we will sadly be facing the same circus of 2008 when AF was on the verge of taking over.
- AZ turns itself into a money earning business (which is tough it imagine - if one looks at the AZ history in the last 10 - 15 years)
- AZ is taken over by one or several other airlines or by some financial investors which will restructure AZ - with all its effects - to make it a money making business
- AZ is running out of cash - and one day - either the Italian politics (less likely) or the EU (more likely) will decline any further financial support from the public (I cannot imagine that any "private" investor is currently willing to put any more money into AZ)