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Found 12 results

  1. Staff Writer May 7, 2020 6:12pm Delta Air Lines and LATAM Airlines Group and its affiliates have signed a trans-American Joint Venture Agreement that, once regulatory approvals where required are granted, will combine the carriers’ highly complementary route networks between North and South America, providing customers with a seamless travel experience and industry-leading connectivity. “Late last year, we set out to build the leading strategic alliance in Latin America together with LATAM, and while the industry landscape has changed, our commitment to this joint venture is as strong as ever,” said Delta CEO Ed Bastian. “Even as our carriers contend with the impact of COVID-19 on our business and take steps to protect the safety of our customers and employees, we are also building the airline alliance we know they’ll want to fly in the future.” “While we remain focused on navigating the COVID-19 crisis and protecting the safety and well-being of our passengers and employees, we also have to look to the future to ensure the best possible customer experience and support the long-term sustainability of the group,” said Roberto Alvo, CEO, LATAM Airlines Group. “Our bilateral strategic alliance with Delta remains a priority and we firmly believe that it still promises to offer customers the leading travel experience and connectivity in the Americas.” Since September 2019, Delta and LATAM have achieved various milestones in their framework agreement with customer benefits including: Codeshare agreements between Delta and LATAM’s affiliates in Peru, Ecuador, Colombia and Brazil that allow customers to purchase flights and access onward destinations in their respective networks and will be expanded to cover long-haul flights between the United States/Canada and South America, as well as regional flights. Delta and LATAM’s affiliates in Chile and Argentina also plan to sign codeshare agreements in the coming weeks. Frequent flyer benefits: Delta SkyMiles members can earn and use miles on LATAM flights, while LATAM Pass members can earn and use miles on Delta flights across their respective networks. Reciprocal top tier loyalty recognition is expected to be available during June 2020. Smoother connections at hub airports: Customers can easily connect between Delta and LATAM flights in hub airports where the carriers have collocated, including Terminal 4 at John F. Kennedy International Airport (New York City) and Terminal 3 at São Paulo’s Guarulhos Airport. Mutual lounge access: Eligible LATAM customers can access the Delta Sky Club in New York-JFK and eligible Delta customers can access LATAM’s lounge in Bogota/BOG. Expanded reciprocal lounge access at airports throughout the Americas is planned for June 2020. For more information, visit delta.com/us/en/airline-partners/latam or latam.com/en_us/about-us/latam-delta-alliance/
  2. Delta Air Lines acquires 4.3% equity stake in Hanjin KAL June 21, 2019 Delta Air Lines acquired (20-Jun-2019) a 4.3% equity stake in Hanjin KAL, a Korean Air shareholder. Delta Air Lines CEO Ed Bastian stated Delta’s partnership with Korean Air is “already one of our fastest-integrating and most successful partnerships”, adding the new investment is expected to “further strengthen our relationship as we continue to build on the value of the joint venture”. He noted the carrier has a “vision to deliver the world’s leading trans Pacific joint venture” with Korean Air, delivering the “strongest network, the best service and the finest experience connecting the US with Asia” https://blueswandaily.com/delta-air-lines-acquires-4-3-equity-stake-in-hanjin-kal/ _______________________ Como o mundo dá voltas, KE e DL mal tinham acordos na Skyteam, e hoje são sócias. Depois da falência da Hanjin Shipping e que afetou a Korean Air, a família do Chaebol teve que engolir a seco o orgulho e correr para salvar o restante do império.
  3. Da mesma forma que os Boeing 727-200 e 737-200 saíram das majors após o 11/09, agora será a vez dos Mad Dogs e do 757. DELTA AIR LINES TO RETIRE MD-88, MD-90 AIRCRAFT IN JUNE MIAMI – Earlier than it had been planned in its retirement schedule, Delta Air Lines (DL) announced that it would withdraw MD-88 and MD-90 from its fleet in an effort to reduce its capacity systemwide. The airline had already reduced about half of its active aircraft due to the COVID-19 crisis. As a result, around 600 mainline and regional aircraft were parked. REASONS BEHIND BOTH RETIREMENTS To grapple with the current crisis, the carrier first halted air passenger operations, storing the MD-88 and MD-90 types. But as the negative impact is now worse than previously expected, DL is considering early retirements of older and less efficient aircraft such as the MD-80/90 fleet. Both models were operated in the carrier’s domestic network prior to travel restrictions and were expected to remain active throughout 2020. The MD-88 was previously scheduled to be fully retired at the end of 2020 as it has an average age of 29 years. The withdraw has been progressive in the last two years as the airline had 116 aircraft in 2017, reducing its fleet to 47 in 2019. Regarding the MD-90, the company has 29 in its fleet and their retirement deadline was not expected before 2022. This MD-90 fleet has an average age of 23 years. According to Air Insight’s Decision Analytics, the maintenance of MD-88 had the highest average cost per hour of the airline at US$457, closely followed by the maintenance of MD-90 at US$456. Delta continues evaluating additional aircraft retirements to focus on modern fleets, in this case, with more efficient performance and fewer related costs per operation. https://airwaysmag.com/airchive/dl-dismiss-md-88-md-90-aircraft-june/
  4. Matt Smith | May 11, 2020 | More on: DAL AC Warren Buffett recently dumped his entire holdings in the four major U.S. airlines. This is believed to have added around US$6 billion to Berkshire Hathaway’s cash holdings, lifting his war chest of cash to around US$140 billion — and sparking sparked considerable speculation about the intentions of one of the world’s most closely watched investors. What do Buffett’s actions mean? Buffett incurred a considerable loss on his investment in the four major U.S. airlines — an industry he has scorned for decades. He once famously quipped at the 2013 Berkshire Hathaway meeting: “Investors have poured their money into airlines … for 100 years with terrible results. ... It’s been a death trap for investors.” Markets were confused by Buffett’s sizable investment in the four major U.S. carriers, Delta Airlines (NYSE:DAL), Southwest Airlines, American Airlines and United Airlines, which was worth around US$9.5 billion at the end of 2019. It is believed that Buffett crystalized a large loss upon selling the investment, which is estimated to have generated around US$6 billion in cash. Nonetheless, with Delta’s CEO advising at the start of April that it was burning through US$60 million a day and posting a US$534 first quarter 2020 loss, the outlook for airlines is worsening. Even more so, when considered that Air Canada’s President and CEO stated it will take three years for flight demand to return to 2019 levels. Like Delta, Air Canada posted a large first quarter loss of over $1 billion, which was mainly driven by foreign exchange losses and an 80% plus capacity reduction. Second quarter 2020 losses for airlines will be worse. These events illustrate that Buffett has made the right decision. An important lesson to learn Buffett’s action stress an important and often ignored lesson for investors. While it is painful to incur losses, don’t be afraid to sell loss making stocks if fundamentals are so poor that there is no chance of the company recovering to previous highs. There are many examples of companies that have failed because of secular changes to the markets in which they operate. Among the most notable of these is the bankruptcy of leading photography company Kodak and the fall of once mighty Sears, which at one point was the world’s largest retailer. A combination of disruptive technology, changing consumer habits and hubris led to their demise. Airline industry is evolving In a post coronavirus world, airline fundamentals have changed. Greater regulation and government scrutiny of travel and tourism will impact the airline industry for the foreseeable future. Many countries have even closed their borders and banned international flights. Australia doesn’t anticipate accepting international travellers until 2021, while South America’s third-most populous country, Argentina, suspended all flights until September 2020. To survive the current harsh operating environment, where cash flow could dwindle to zero and earnings plunge deeper into the red, many carriers have loaded up on debt. Delta’s long-term debt grew 43% between the end of 2019 and first quarter 2020 to a whopping US$12.7 billion, while current debt grew by a stunning 90% to US$4.3 billion. At the end of April, Delta announced that it intended to acquire another US$3 billion of debt. While that bolsters its ability to survive the current harsh operating environment it eventually needs to be repaid. The sharp increase in debt means significantly higher financing costs, which will eat into Delta’s profits. For these reasons, it’s difficult to see airlines recovering to anything resembling their pre-coronavirus status for three of more years. That makes many, especially those like Delta which have loaded up on debt, unattractive investments. Looking ahead Buffett’s decision to dump his airline holdings has hit confidence in the industry hard. Nevertheless, Air Canada is a contrarian bet that’s more appealing than Delta because it operates in a less competitive market where it is the dominant player. Air Canada is not as indebted as Delta, however. By the end of April, it had drawn$1 billion from existing credit facilities and added $1.6 billion in short-term loans. Air Canada has many levers at its disposal, including tapping debt and equity markets for capital and even a potential bailout from Ottawa. While airlines are highly unappealing investments in the current difficult environment, Air Canada is an attractive contrarian play on an air travel recovery. https://www.fool.ca/2020/05/11/1-important-lesson-to-learn-from-buffett-selling-airlines/
  5. April 28, 2020 Delta Air Lines CEO Ed Bastian stated (22-Apr-2020) the carrier will have an opportunity to focus “on a more premium experience and getting paid for what we deliver” in the future, as there “will be fewer airplanes flying in the skies for an extended period of time”. He noted the carrier has also begun to have cash sales equal cash refunds, compared to approximately 30 days ago when it was “overwhelmed by the amount of cash refunds relative to new cash sales coming in”. https://blueswandaily.com/delta-air-lines-cash-sales-beginning-to-equal-cash-refunds-ceo/
  6. É notícia já passada, mas que traz muita relevância para a aviação sulamericana: https://www.cnbc.com/2019/09/26/delta-is-buying-20percent-of-latam-latin-americas-largest-airline.html É importante a discussão. Pessoalmente a Delta mudou todo jogo de cartas do stablishment da região. A LATAM tem uma parceria de peso, conquistada via $$$, a Avianca nada muda - diria que até beneficiaria, mas a Gol fica em uma sinuca no curto prazo. American e IAG também ficam em situação delicada, principalmente em mercados secundários.
  7. LATAM Cancels Joint Venture Plans With IAG The LATAM Airlines Group has given up on its plans to form an association with the International Airlines Group (IAG) after having decided to leave the Oneworld alliance. The South American based Airline had decided on Wednesday, December 4th, 2019 to cancel the planned joint venture with the owners of British Airways and Iberia according to Aviation website FlightGlobal. [...] Santiago, Chile – December 6, 2019. “LATAM Airlines Group and International Airlines Group (IAG; the parent company of British Airways and Iberia) have decided that they will not implement their proposed joint business agreement (JBA). The decision was made for commercial reasons and in the context of changes in the aviation market since the JBA was first announced in January 2016. “Both airline groups are committed to maintaining their longstanding relationship as well as serving customers on both sides of the Atlantic. All existing bilateral interline, codeshare, lounge access and frequent flyer agreements between the carriers will remain in place, with no impact on customers. “LATAM has informed the relevant competition authorities about this decision.” Notícia completa em: https://simpleflying.com/latam-iag-jv-cancel/ Será que veremos alguma movimentação em direção a Air France-KLM e Virgin?
  8. 02-Dec-2019 7:37 PM Las filiales del Grupo LATAM en Perú, Colombia y Ecuador firmaron acuerdos de código compartido con Delta, con entrada en vigencia para el primer trimestre de 2020. LATAM pondrá fin formalmente a sus acuerdos de código compartido con American Airlines el 31 de enero de 2020. LATAM Airlines Group (“LATAM”) anunció hoy que sus filiales LATAM Airlines Perú, LATAM Airlines Colombia y LATAM Airlines Ecuador firmaron acuerdos de código compartido con Delta. Estos códigos compartidos brindarán mayor conectividad hacia Estados Unidos a partir del primer trimestre de 2020 (sujetos a las aprobaciones regulatorias según corresponda). Los nuevos códigos compartidos representan el primer paso del acuerdo entre LATAM y Delta, anunciado el 26 de septiembre de 2019, que combinará las redes de destinos altamente complementarias de los dos grupos, proporcionando a los clientes una experiencia de viaje líder con una mayor conectividad a destinos en todo el mundo. LATAM y Delta están trabajando en una transición fluida que incluye el fortalecimiento de su acuerdo interlínea ya existente, el establecimiento de acuerdos que permitan el acceso recíproco a sus salones VIP y beneficios mutuos de viajero frecuente, al igual que el desarrollo de nuevos acuerdos bilaterales de código compartido. Los tres acuerdos de código compartido firmados hoy (2 de diciembre de 2019) con Delta ofrecerán a los clientes de LATAM la posibilidad de acceder a hasta 74 destinos en Estados Unidos y Canadá, abriendo además hasta 51 destinos para los pasajeros de Delta en Sudamérica*. A partir del primer trimestre de 2020: El código "LA" de LATAM Airlines Perú será incorporado a los vuelos de Delta a hasta 74 destinos en Estados Unidos y Canadá más allá de sus puntos de origen en Nueva York (JFK), Miami (MIA), Los Ángeles (LAX) y Orlando (MCO). Asimismo, el código "DL" de Delta se agregará a los vuelos de LATAM Airlines Perú a hasta 34 destinos en Perú y Sudamérica más allá de Lima (LIM). El código "DL" de Delta se añadirá a los vuelos de LATAM Airlines Colombia a hasta 13 destinos en ese país más allá de Bogotá (BOG) y Cartagena (CTG). El código "LA" de LATAM Airlines Ecuador se incluirá en los vuelos de Delta a hasta 55 destinos en Estados Unidos y Canadá más allá de Nueva York (JFK). Del mismo modo, el código "DL" de Delta se agregará a los vuelos de LATAM Airlines Ecuador a hasta cuatro destinos en Ecuador más allá de Quito (UIO). “Estos códigos compartidos marcan un hito importante en el trayecto de LATAM hacia ofrecer la mejor conectividad y experiencia de cliente en las Américas. Pronto, nuestros pasajeros podrán acceder a hasta 74 destinos en Estados Unidos y Canadá, lo que es sólo un ejemplo de la naturaleza complementaria de nuestras redes y uno de los varios beneficios futuros que traerá el acuerdo estratégico con Delta", dijo Enrique Cueto, CEO de LATAM Airlines Group. LATAM también planea establecer acuerdos de código compartido entre Delta y sus filiales en Chile y Brasil en 2020*, ofreciendo aún más conectividad entre Sudamérica y Estados Unidos. Fin de los acuerdos de código compartido con American Airlines LATAM pondrá término formalmente a todos sus acuerdos de código compartido con American Airlines el 31 de enero de 2020. Los clientes que hayan comprado boletos de American Airlines a través de LATAM antes de esta fecha para vuelos desde el 1 de febrero de 2020 en adelante tendrán derecho a los mismos servicios, sin cambios a sus condiciones de viaje o pasajes. Los acuerdos entre LATAM y American Airlines de viajero frecuente y acceso recíproco a los salones VIP se mantendrán vigentes hasta que LATAM deje oneworld. Salida de la alianza oneworld LATAM informó en septiembre de 2019 a oneworld y a sus socios de la alianza que dejaría oneworld dentro de un año, en línea con el plazo de aviso estándar. La compañía está evaluando una fecha de salida anticipada y cualquier cambio se comunicará oportunamente. Luego de su salida de oneworld, LATAM mantendrá sus acuerdos bilaterales con la mayoría de las aerolíneas de oneworld. Antecedentes del acuerdo anunciado el 26 de septiembre de 2019: ● Delta invertirá US$1.9 mil millones por una participación del 20% de LATAM a través de una oferta pública con un precio de US$16 por acción. La oferta pública se lanzó el 27 de noviembre de 2019 y durará 30 días. ● Delta también invertirá US$350 millones para apoyar la creación de la alianza estratégica contemplada en este acuerdo. ● Delta adquirirá cuatro aeronaves Airbus A350 de LATAM y ha acordado asumir los compromisos de compra de LATAM por 10 A350 adicionales con fecha de entrega a partir de 2020 al 2025. ● Delta tendrá representación en el Directorio de LATAM. ● La alianza estratégica está sujeta a todas las aprobaciones gubernamentales y regulatorias necesarias. *Sujeto a las aprobaciones regulatorias según corresponda. This press release was sourced from LATAM on 01-Dec-2019. https://centreforaviation.com/members/direct-news/latam-anuncia-nuevos-acuerdos-de-cdigo-compartido-con-delta-504560
  9. Delta Air Lines’ Q2 results beat market estimates July 11, 2019 Delta Air Lines (NYSE: DAL) reported better-than-expected revenue and earnings for the second quarter of 2019, allowing shares to climb 2.2% in premarket hours on Thursday. The consensus estimate was for earnings of $2.24 per share on revenue of $12.4 billion. Total operating revenue of $12.5 billion was up 6.5% from the same period last year. On an adjusted basis, revenues grew 8.7%, helped by a 10% increase in premium product ticket revenue and double-digit percentage increases in loyalty and third-party maintenance revenue. On a GAAP basis, net income grew 39% to $1.4 billion and EPS grew 48% to $2.21. Adjusted EPS grew 32% to $2.35. Total revenue per available seat mile (TRASM) grew 1.6% year-over-year on a GAAP basis and 3.8% on an adjusted basis. Consolidated unit cost (CASM) was down 1.5% on a GAAP basis and up 1.4% on an adjusted basis. During the quarter, Delta saw revenue increases across all its geographic regions helped mainly by higher passenger unit revenue and capacity. For the third quarter of 2019, Delta expects EPS to come in the range of $2.10-2.40. Adjusted TRASM is expected to grow 1.5-3.5% year-over-year while CASM-Ex is projected to rise 1-2%. System capacity is expected to be up around 4% from the same period last year. Based on the strong first half performance, the company raised its full-year 2019 EPS guidance to a range of $6.75-7.25. Delta increased its quarterly dividend by 15% to $0.4025 per share. The dividend is payable on August 15, 2019 to shareholders of record on July 25, 2019. https://news.alphastreet.com/delta-air-lines-earnings-q2-2019/
  10. The European Commission (EC) has given the US a stern warning not to take any action against Milan-based Air Italy that would prevent it flying to the US. ATW has obtained a copy of the letter, which was sent from EC Mobility and Transport director general Henrik Hololei to US State Department under secretary, economic growth, energy and environment Manisha Singh. In it, Hololei uses unusually direct language to make clear that the EC “will take all steps necessary to defend the rights of the European Union (EU), its Member States and its air carriers” under the EU-US Open Skies agreement, which permits EU country-based airlines like Air Italy to fly to any US destination and vice versa. The EC warning comes as American Airlines, Delta Air Lines and United Airlines have joined forces in a campaign directed at challenging Air Italy’s flights to the US because Qatar Airways has a 49% stake in the Italian carrier. The three US majors have taken out full-page advertisements in US newspapers and lobbied Congress, claiming that Air Italy’s services are really Qatar Airways fifth freedom flights. While the US also has an Open Skies agreement with Qatar that permits fifth freedom flights, the two countries agreed to a voluntary side letter in January, 2018 in which Qatar said Qatar Airways had no plans to launch fifth freedom services to the US. EC rules permit the 49% stake that Qatar Airways has in Air Italy; Qatar Airway also has a 20% stake in International Airlines Group (IAG), which owns British Airways (BA), but the US airline campaign is not challenging BA’s right to serve the US or calling BA’s flights Qatar Airways fifth freedoms. BA is an American Airlines’ joint venture partner. Hololei, whose letter was cc’d to US Department of Transportation assistant secretary, aviation and international, Joel Szabat, tell Singh: “I have come to understand that, following persistent, but unfounded demands from certain parts of the US airline industry, the US administration is potentially considering taking measures against the services of Air Italy to the United States. In this context, I would like to bring to your attention our serious concerns. “Air Italy is an established EU carrier and its services to the US are covered by and fully consistent with the EU-US Air Transport Agreement (ATA) using 3rd and 4th freedom traffic rights between the EU and the US. Therefore, any measure to curtail or end the rights of Air Italy to serve the US would constitute a clear and serious violation of the ATA. “Such action would be unprecedented and would put into question the most fundamental principles under which our aviation relations have so successfully developed over more than 10 years. I am sure that you would agree with me that the ATA has served us all well and we are always ready to work together with you and your team on this, including on clarifying incorrect public allegations and representations made by certain market participants. “The European Commission will take all steps necessary to defend the rights of the EU, its Member States and its air carriers under the ATA.” A petition was circulated on Capitol Hill calling on the Trump administration to take action against Qatar Airways over Air Italy and US Representative Debbie Lesko (Democrat-Arizona) sent a letter to the heads of the State, Commerce and Transportation, saying that Qatar Airways’ financial support for Air Italy’s expansion into the US violated the US-Qatar Open Skies side letter. However, there has been a backlash against the US majors’ campaign, with other US airlines, airports and travel consumer organizations warning of “misleading and inaccurate” claims. “The [Lesko letter] is premised on misleading claims promoted by parties that stand to benefit financially and its fundamental basis is incompatible with the facts regarding Open Skies and contrary to the broader economic interests of the US aviation, manufacturing and tourism industries, and the millions of American customers we serve,” an aviation coalition wrote in early June. This week, a new US-United Arab Emirates (UAE) joint government statement was released in which the two countries said they “shared an ongoing commitment of the United States and the United Arab Emirates to fully maintain all aspects of their Open Skies relationship.” The significance of the statement lies in its confirmation that all rights of the original 2002 US-UAE Open Skies agreement are confirmed. American, Delta United Airlines and their affiliated labor groups had sought to freeze UAE fifth freedom rights in the agreement, which would have prevented Dubai-based Emirates from expanding its transatlantic flights. Emirates operates Dubai-Milan-New York and Dubai-Athens-New York flights. The other UAE major airline, Etihad Airways, does not operate any fifth freedoms, nor does Qatar Airways from Doha to the US, but the rights are open to all US, UAE and Qatar carriers and are a standard of Open Skies pacts. Karen Walker/ATW karen.walker@informa.com https://atwonline.com/open-skies/ec-transport-chief-warns-us-not-curtail-air-italy-flights
  11. 12-Apr-2019 12:59 AM Delta Air Lines CEO Ed Bastian reported (10-Apr-2019) the airline's high revenue premium in 1Q2019 was due to a domestic net promoter score of 50%, adding 55% of the airline's revenue is now sourced through its premium products and non ticket sources, compared to 40% in 2011. He also noted the airline grew its operating margin by 1.5% in 1Q2019. The airline had its "best March quarter" completion factor in 1Q2019, he mentioned, with the airline recording a completion factor of 99.06% in "very difficult winter weather". https://centreforaviation.com/news/delta-air-lines-ceo-55-of-revenue-now-from-premium-products-non-ticket-sources-895551
  12. November 2, 2018 Delta Air Lines reportedly submitted a binding offer for investment in Alitalia (ilmessaggero.it/Reuters/Bloomberg, 31-Oct/01-Nov-2018). As previously reported by CAPA, Alitalia confirmed it received one expression of interest (EoI) and two binding offers, with easyJet confirming on 31-Oct-2018 it submitted a revised EoI as part of the sale. https://blueswandaily.com/delta-air-lines-submits-binding-offer-in-alitalia-sale-report/ (Bloomberg) -- Italy’s Alitalia SpA attracted bids from European discounter EasyJet Plc and U.S. giant Delta Air Lines Inc., as the government renews attempts to sell the bankrupt flag-carrier. U.K.-based EasyJet said in a statement Wednesday that it submitted a revised expression of interest in Alitalia, while Delta also presented a proposal. Italian state railway company Ferrovie dello Stato said it also made an offer. The bids raise the prospect of Alitalia gaining multiple owners, with EasyJet bringing its expertise to bear on short-haul operations, and Atlanta-based Delta helping to run lucrative long-haul flights out of Milan and Rome. Ferrovie would most likely act as an anchor investor. State-appointed administrators for Alitalia confirmed that two binding bids had been received, together with one expression of interest, without saying who they were from. Economic Development Minister and Deputy Prime Minister Luigi Di Maio said that “finding an industrial partner is going to be key.” Unprofitable Alitalia went into liquidation last year when former 49 percent shareholder Etihad Airways of Abu Dhabi pulled the plug on funding and workers rejected a 2 billion-euro ($2.3 billion) recapitalization tied to 1,600 job cuts from a workforce of 12,500. Bridge Loan An initial bid deadline of April 30 this year was extended to Oct. 31 as Italian political parties struggled to form a new government. The airline has been surviving on a 900 million-euro bridge loan that expires in December, though the facility could be extended while the search for investors continues, according to Italian press reports. Deutsche Lufthansa AG, which put its name forward earlier in the process, said it decided not to bid, reiterating recent comments from Chief Executive Officer Carsten Spohr that Alitalia would need to be significantly restructured for it to be interested. Also previously involved in the bidding were EasyJet’s low-cost rival Wizz Air Holdings Plc and Air France-KLM Group, a former Alitalia shareholder previously linked to EasyJet’s approach which is about 10 percent held by Delta. The U.S. company described Alitalia as a long-standing partner in its trans-Atlantic venture with Air France-KLM and said it’s continuing to explore ways to work with the Rome-based carrier. EasyJet said its submission is consistent with its “existing strategy” for Italy, without revealing details. Rail Interest The involvement of Ferrovie could be a complication for EasyJet, since its high-speed trains are a major competitor for Alitalia on domestic routes. The rail group became part of Italy’s planning following a March general election that led to a populist coalition of the Five Star Movement and League parties. The government itself could also take a 15 percent stake, reports have said, something that could form a further obstacle to the wholesale job cuts corporate investors might want to impose. Tim Clark, president of Dubai-based Emirates, the world’s biggest airline on long-haul routes, said Thursday in Monaco that his company didn’t bid but that the Italian market is attractive because of its size and robust demand. “You see carriers circling around the edge of Alitalia, but whether they’ll plunge in and eat it all I don’t know,” he said. --With assistance from William Wilkes. To contact the reporters on this story: Christopher Jasper in London at cjasper@bloomberg.net;Chiara Albanese in Rome at calbanese10@bloomberg.net To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Jerrold Colten, Andrew Noël https://finance.yahoo.com/news/alitalia-attracts-easyjet-delta-bids-092323679.html
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