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Alitalia: the agreement is approaching, but the money is scarce

A capital allocation scheme has been drafted, but the overall financial envelope risks being very low for an airline – the Treasury is asking Delta to make an extra effort

Alitalia: the agreement is approaching, but the money is scarce

The agreement for the New Alitalia takes shape. A meeting between the top management of Delta, Ferrovie dello Stato and Atlantia took place on Wednesday, during which progress was made in the negotiations to finalize the binding offer, which must be presented by 15 October.

The capital should be divided as follows: 12% a Delta (from 10% budgeted), 15% al Ministry of Economy and 36,5% to each of the two private partners, i.e FS , holding company of the Benetton family.

The initial share capital should be quite low for a company of Alitalia's size: between 900 million and one billion.

- American they would have to invest just 120 million euros, too low an amount to guarantee a long-term commitment. For this reason, the Italian government would like the US carrier to hold a share of at least 15%. The pressure on the US carrier is underway and we will see what outcome it will give.

From Tesoro interest on the bridging loan granted to Alitalia (equal to 150 million) will instead arrive.

The bill is more salty Railways e Alitalia, which should contribute 365 million each.

However, the scheme is still provisional and there are still pending chapters. Starting with the name of the new CEO, still shrouded in uncertainty.

If the definitive agreement is not found by early October, there is the risk that Alitalia will have to ask the state for another 200 million loan.

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