Alitalia will laboriously guarantee over 3 billion in revenues to its shareholders again this year. This is good news even as we try to speed up the time for the sale which will have to be completed, after many postponements, by November 21st. And rumors are filtering in from the Treasury, reported by La Repubblica, according to which the relaunch of Alitalia will start from 850 million and not from one billion as previously assumed. In fact, the Ministry of the Economy would like to lower the capital contribution from 1 billion initially envisaged to 850 million. Of this amount, the Treasury would deliver 150 million to the company in interest on the loan, while Atlantia and Ferrovie would each pay 300 million, which would become 275 if the German flag carrier were chosen.
The risk of bankruptcy, needless to hide it, is always lurking and without the definition of the new ownership structure the future remains bleak, but at least the keeping of the accounts emerges from the hearing in Parliament of the three commissioners in charge of extraordinary management. For the 24th consecutive month, I am also in October increased revenues and increased passengers on intercontinental flights. Preliminary data for the tenth month of the year showed an increase in revenues on the intercontinental segment of 7,5% compared to the same period last year, while passengers on Longer-haul routes were up 7,8% in the year-on-year change.
Alitalia transported 1.827.567 passengers in all its sectors in October, with an aircraft load rate of 80,4%, also up by 1,5 percentage points compared to the same month of the previous year. As at 31 October 2019, the airline's liquidity stood at €315 million compared to €310 million recorded at the end of September.
Putting the data in order, in the first half of 2019 the total revenues recorded by Alitalia amounted to 1,443 billion, up by 3% on the same period of the previous year and by 7,7% compared to the first six months of 2017. This announcement was made Stefano Paleari, extraordinary commissioner of the airline during a hearing on the tax law before the Transport and Productive Activities commissions of the Chamber of Deputies.
“At the beginning of the extraordinary administration – continued Paleari – we had 83 million in cash and with tickets sold for 531 million. This was the starting point. This is a company that will also invoice more than three billion this year. It is a company that is on the market, but within the limits of extraordinary administration”.
The other two extraordinary commissioners of Alitalia were also in front of the joint Transport and Productive Activities commissions, Daniele Discepolo and Enrico Laghi. The latter, appointed together with Paleari and Discepolo, to lead the rescue campaign of Alitalia to avoid bankruptcy, he recalled that "the objective of the closing of the sale is ideally set for the first quarter of 2020“. The new contribution of public funds for 400 million, provided for by the tax decree, according to Laghi it allows the company to arrive without jolts on that date.
The problem, however, remains the times and the constant postponements for the choice of the industrial partner.”There are important managerial facts that need to be resolved and that involve the company's future, forthcoming activities such as the flight programs for next year to be communicated to Iata by November. The November 21st deadline for submitting the binding offer becomes essential“, warned Daniele Discepolo.
