The closure of the largest Italian airline due to bankruptcy

The closure of the largest Italian airline due to bankruptcy
The closure of the largest Italian airline due to bankruptcy

Alitalia, Italy’s largest airline founded in 1946, is closing its doors on Thursday due to bankruptcy.

The company’s press office said that the company “Alitalia” will make its last flight this Thursday evening from Cagliari in Sardinia to Fiumicion Airport in Rome.

He added that the crew of the last flight of the company will be headed by pilot Andrea Gioia, one of the most experienced pilots in the field of civil aviation in Italy, and he has worked for the company “Alitalia” since 1989.

As of October 15, the country’s main airline will become the Italia Trasporto Aereo, which was established last October by a decision of the Italian government, instead of “Alitalia”. The Italian authorities were talking at the time about “investments in the future” and “restarting the air transport system”, noting that the establishment of this company should support the competitiveness of entrepreneurship and national tourism.

Italian experts believe that the fact that Alitalia went bankrupt indicates the failure of the long-term attempts made by the Italian government and investors to save this well-known airline.

The last attempt to save the company was taken in August 2014 when an agreement was signed to sell 49% of the company’s shares to Etihad Airways. However, in April 2017, Alitalia employees rejected its development plan proposed by the company’s new directors.

In total, the volume of government financial injections into the company “Alitalia” since 1974 has reached about 13 billion euros.

Last September, the European Commission was forced to intervene in the company’s crisis, coming to the conclusion that the loans made by the government during the emergency management of the company were illegal, as they contradicted EU rules on state aid. According to the decision of the European Commission, the state must now recover this money from the company, including the interest on it.

She will work for Italia Trasporto Aereo, which will inherit the bankrupt company’s 52 planes and 2.8 thousand people. It is expected that soon the issue of buying the Alitalia brand will be resolved.

Source: RIA Novosti

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