Steps forward in the Alitalia Extraordinary Administration process. The three commissioners – Gubitosi, Laghi and Paleari – have published the "Call for the collection of expressions of interest" non-binding, once authorization has been received from the Ministers calenda e Delrium. Interested parties will have until 18pm on 5nd June to submit expressions of interest.
Bids may be submitted – as stated in the Call for Proposals – “by sole proprietorships or companies of any nationality, both individually and jointly with other sole proprietorships or companies (the Consortiums)”.
The recovery program can take place in three different ways:
Sale program of business complexes: provides for the unitary transfer of the company complexes and the consequent continuation of the exercise of the company itself.
Restructuring Program: economic and financial reorganization of the company on the basis of a recovery programme.
– Program for the sale of assets and contracts: the so-called "stew", which provides for the sale of specific assets of the company and the continuation of the exercise of the company.
The deadline of June 5 was chosen to be able to open in mid-June data room, when the interested parties will be able to view all the data and information relating to the company. The goal of the three commissioners is to have it by the end of the month July non-binding offers.
The ceiling, amount to European carriers, of a maximum share of capital of 49% in the hands of non-EU companies also weighs on the whole vice. This is a bond aimed at protecting the European flag carriers which, however, are essentially two: Air France and Lufthansa. Overcoming this limit is not easy and for Luigi Gubitosi, who has to unravel the complicated Alitalia skein, this could prove to be a further handicap in the negotiation for the sale of the national company.
