Italian investors plan a slimmed-down Alitalia, focusing largely on short and medium-haul routes. Developments are expected to gather pace after the Italian cabinet on 28 August approved a decree to amend administration legislation for large companies in crisis. This paves the way for the break-up of the company and for Italian investors to bid for its assets.
A group of 16 Italian industrial investors have been lined up to provide around €1 billion ($1.47 billion) for the new company - Compagnia Aerea Italiana - to be headed by the chairman of Piaggio Group parent IMMSI, Roberto Colaninno. IMMSI will itself invest up to €150 million.
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Unions have already voiced concerns at the reduced scope of operations reportedly envisaged. Italian media reports suggest the plan would scale back the existing operations of Alitalia and Air One, cutting its fleet by more than a third to around 150 aircraft and long-haul routes to 15.
Securing an international strategic partner is key. While Lufthansa has recently appeared a front-runner, Alitalia's partner Air France-KLM says it is willing to take a minority stake if it can be shown to be profitable.
Source: Flight International
