Plan B there is and continues. On the basis of a now full-blown fact: Europe’s attitude towards Alitalia seems to be more punitive than decisive. A shower of billions awarded to Klm, Air France e Lufthansa with the justification that compared to Alitalia the performance of the other pre-Covid companies was not problematic.
“Let’s do the math. A company, like Lufthansa, which is being wiped out by Covid and needs 7 billion and 100 billion, with the state having already paid the supplementary funds, was practically bankrupt. Alitalia is still standing without the 7 billion, pays 630 million in taxes, struggles to pay salaries … and do we mean that Lufthansa was better off before Covid? Let’s not fool ourselves – he said Flavio Robert Paltrinieri, at the head of the group Galaxia-AmonRa capital, advocate together with his think tank of the only industrial top left on the table.
“Not only Europe claims it stew and fear the payment of one billion and 600 million fines for state aid. What if the government takes an anti-European stance? Let’s do the math: out of 3.150 billion of state aid approved by the EU, Germany has grabbed 1600. That is, more than 50% ”.
And voices of concern are beginning to rise on various fronts. Among many the municipal councilor of Ladispoli, leader of the PD group and councilor of the metropolitan city, Federico Ascani, he said he was “very worried about the political line pursued by the Draghi government regarding the Alitalia dossier”, arguing that the direction taken tends to “make economic difficulties for workers “.
And experts like Mario Sebastiani, professor of competition economics and market regulation at the University of Rome Tor Vergata, have now loudly affirmed that the lower case ITA with its 50 planes it wouldn’t compete with companies either low cost (because it couldn’t be that efficient and it doesn’t have the slots anymore) nor on the long haul (because he doesn’t have the means).
And always Sebastiani with his declarations reiterated the opportunity to contemplate traffic agreements on the North Europe and Central Southern Africa lines, underlining the need for reviewing strategies in the light of a pandemic that disrupts all assets by bringing new solutions to short-haul transport, changes in business travel, less income available to travel. Perfectly in line with the plan brought by Paltrinieri, therefore.
Alitalia continues to be salvable, certainly not with 8,000 supplementary coffers for five years that would burn all three billions envisaged by the ITA plan, without bringing any value in terms of relaunch or with a Lilliputian downsizing that would lead it to have no sense of existing .
Instead, the proposal launched by Gaetano Intrieri, which he spoke of make cash through a buyback of aircraft. “With a lease back Alitalia would find itself 130 aircraft, we assume from sell to a fund finding a treasure of about a billion to relaunch with and rent the planes again “, Paltrinieri explains. Maybei with better contracts than the current ones, in which leases are particularly highi, as written by Business Italians in previous articles.
(He follows…)