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Sections

February 6, 2018
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Alitalia bankrupcy update

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It is reported that Alitalia’s special administrators are set to choose the successful bidder to begin exclusive negotiations about the bankrupt airline’s future within days, according to Italy’s economic development minister Carlo Calenda.

On the other hand executives of AFKLM have reportedly met Italian commissioners overseeing the bankruptcy issue to discuss joining the auction bringing another element of surprise to the proceedings and AF-KLM’s move marks a new twist in the long-running story surrounding Alitalia’s financial crunch. Air France-KLM and Alitalia had been in talks years ago but they were not able to reach an understanding allegedly by the same people at the unions in Italy who have refused to realistically negotiate and thereby save the airline before it entered bankruptcy. AFKLM has a relationship with Easyjet, a British airline, and Lufthansa, an auction bidder has a relationship with Vueling, a Spanish low cost airline, so there is a multi-faceted potential solution to Alitalia’s woes. Lufthansa along with Cerberus Capital are seen as favorable companies to buy or make some deal with Alitalia.

It is interesting to note that the low cost airlines have been aggressive in working with legacy airlines to win some or all of Alitalia’s routes.

This is another aspect of negotiations which is critical to any deal.

Posted 1:36 pm, February 6, 2018
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