Italy to take full control of Alitalia as virus hits sale plan
The Italian government is close to taking full control of Alitalia, as the coronavirus outbreak in Europe was forcing it to abandon plans to find a buyer for the ailing national carrier, daily Il Messaggero said on Sunday.
According to the plan, which the report said was already at an “advanced stage”, the government would take control of both Alitalia’s aviation and land operations through a public vehicle, the report said, adding the plan would be implemented “in a short time”.
Rome had previously set a May 31 deadline to complete the sale of the loss-making airline, with potential investors asked to submit expressions of interest by March 18.
A source with knowledge of the matter told Reuters that Alitalia, which has been struggling for years, was running out of cash, despite an extra 400 million euro injection decided by Rome at the beginning of the year.
Transport Minister Paola De Micheli said this month the government wanted to accelerate the sale process following the spread of the virus, which has led to a collapse in air traffic.
Rome had previously set a May 31 deadline to complete the sale of the loss-making airline, with potential investors asked to submit expressions of interest by March 18.
A source with knowledge of the matter told Reuters that Alitalia, which has been struggling for years, was running out of cash, despite an extra 400 million euro injection decided by Rome at the beginning of the year.
Transport Minister Paola De Micheli said this month the government wanted to accelerate the sale process following the spread of the virus, which has led to a collapse in air traffic.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.