Aviation

Alitalia rescuers to ask for another delay

cde.news desk 6 September 2019, 09:08 · 1 min read

epa05928787 Italian airline 'Alitalia' planes are parked on the tarmac of Fiumicino's Leonardo da Vinci International airport, near Rome, 26 April 2017. Italian Prime Minister Paolo Gentiloni on 26 April was quoted as saying that he was disappointed Alitalia workers had rejected a plan to turn around the troubled airline and admitted he was worried about the company's future. 'I cannot silence the concern about what is happening to Alitalia' and 'It is necessary to be on the market to compete. I am disappointed that the opportunity of the agreement between the company and the unions was not accepted', he was quoted as saying by Italian media. EPA/TELENEWS

Companies hoping to rescue Italian carrier Alitalia [CAITLA.UL] will ask for a deadline for presenting their plan to be extended as they are still negotiating key aspects, Reuters quoted two sources familiar with the matter as saying.

Italian railway group Ferrovie dello Stato, which is leading an effort to take control of Alitalia, is expected to ask administrators running the carrier for a “substantial” delay to the Sept. 15 deadline, one of the sources said.

It would be the sixth delay since Ferrovie expressed its interest in investing in the carrier at the end of last year.

Administrators appointed by Italy’s government have cut costs and renegotiated plane leasing contracts to make Alitalia more efficient, but the carrier still burns cash and had been kept afloat thanks to a 900 million euro bridging loan granted by Italy’s treasury.

Via Reuters

Filed under Aviation Business

Topics Alitalia Aviation Italy

Alitalia rescuers to ask for another delay

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