Aviation: 900 million euro bridge loan converted to Keep Alitalia airline afloat

Alitalia

Italy’s last council of ministers has approved a new decree law with 11 new rules presented by the Minister of Economic Development, Luigi Di Maio. Among these, is the regulation allowing for the conversion of part of a bridge loan – 900 million euros granted to Alitalia airline in May 2017 into equity, and therefore, into a share package (about […]

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Aviation: South African Tourism welcomes the return of Italian airline to OR Tambo International Airport

Alitalia

South African Tourism welcomes the return of Italian airline Alitalia to OR Tambo International Airport after 17 years of absence. The airline will now operate on the Rome-to-Johannesburg route four times a week with travellers having the choice of three travel classes: Magnifica Business Class, Premium Economy and Economy. A proponent of collaborations and partnerships, South African Tourism believes that […]

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Aviation: Alitalia may shed 20000 jobs if Ryanair, Etihad Airways, 8 others fail in their bids to take Over

Alitalia

Italy’s flag carrier Alitalia has received around ten offers for total or partial take-over, including the ones from Irish budget carrier Ryanair and United Arab Emirates’ national airline Etihad Airways, according to Italian media reports. Upon submitting its offer, Etihad has stressed that that was not legally-binding, meaning that Etihad might not acquire any additional stakes after a deal is […]

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Aviation: End of the road? Alitalia files for Chapter 15 bankruptcy in the US

Alitalia

Alitalia has filed for bankruptcy protection in the United States in a bid to keep its leases at New York JFK airport. The airline which is currently surviving on an Italian government loan as it seeks buyers – has been granted a temporary restraining order until June 23, offering it a short period of protection from creditors. Chapter 15 allows […]

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Aviation: Inspite of Etihad’s investment Alitalia goes Bankrupt.

Alitalia

As was widely expected, on Tuesday Italy’s national carrier Alitalia filed for its second bankruptcy in 9 years, after its board decided to formally ask the ministry of economic development to put the money-losing carrier, partly owned by UAE’s Etihad, under special administration after workers rejected its latest rescue plan meant to unlock much-needed financing. As discussed previously, a majority […]

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Aviation: Turkish Airlines carries 40000 passengers in 8 months from Lagos

turkish Vietnam

Despite the current economic recession and the low value of the naira, some foreign airlines are looking beyond the present economic situation and this has informed their continued operation in Nigeria. Although at the beginning of the crash of the naira, some airlines had stopped operation into the country, but industry observers said that those airlines that left were really […]

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Aviation: Confusion as Ethiad and Lufthansa plan to share Alitalia between themselves

Alitalia has denied any talks between its senior board-members and representatives from Lufthansa Group over the German carrier’s possible acquisition of a stake in the Italian airline. Italy’s Messaggero newspaper reported Tuesday that Alitalia’s CEO Cramer Ball and CFO Duncan Naysmith held talks with their counterparts from Lufthansa under the guidance of James Hogan, the ‎President and CEO of the […]

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Alitalia miracle: Etihad restores sick Airline to profitability

Alitalia

Alitalia has confirmed that it is on track to become profitable by 2017, as it reduced its losses by € 381 million in 2015 compared to the previous year. This important result for 2015 comes as the airline announced its first full reporting year under a three-year turnaround Industrial Plan. After posting total revenues of € 3,312.4 million in 2015, […]

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