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Delta Air Lines submits binding offer in Alitalia sale

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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.





(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



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Mas o plano da Easyjet de usar só rotas regionais com sua própria marca não vai rolar nesse esquema de múltiplos sócios mas de fato nenhum dono .

 

Queria entender como uma sociedade dessas vai dar certo se não podem fatiar a empresa em uma long haul e outra short haul,isso sem contar que a Easyjet não querer voar nas cores da Alitalia e sim Easyjet,como fez com a Airberlin

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Delta emerges as frontrunner in Alitalia takeover

 

 

 

08.01.2019 - 03:26 UTC

Delta Air Lines (DL, Atlanta Hartsfield Jackson) is emerging as the most likely industry partner to team up with struggling Alitalia (AZ, Rome Fiumicino), La Stampa has reported.

 

The Italian government intends to conclude the talks regarding the new ownership structure of the flag carrier by the end of February. The negotiations are led by the state-owned railway operator, Ferrovie dello Stato (FS), which is likely going to be the main stakeholder in the restructured carrier.

 

FS' executives will reportedly be making a trip to Atlanta Hartsfield Jackson to meet with Delta's management shortly. The American carrier declined to comment on the report.

 

A partnership with Delta would most likely concentrate on Alitalia's long-haul network. For this reason, FS prefers it to deals with Lufthansa Group or easyJet, which would likely insist on a restructuring and cuts related to Alitalia's short-haul business.

 

Earlier, the Italian government also sought to approach Chinese partners for a 20-30% stake in restructured Alitalia, although so far these plans have not resulted in an announced commitment.

 

Delta and Alitalia are both members of Skyteam. The two carriers are currently also members of a transatlantic joint venture which also includes Air France-KLM, although Delta and Air France-KLM are currently seeking to replace this JV with a new one, including Virgin Atlantic but dropping Alitalia, pending the clarification of its future status.

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A Delta representa o que melhor pode acontecer para a Alitalia

 

Empresa capitalizada (super)

Querida das fabricantes (paga bem e compra muito)

Fornecedores Globais super interessados

Força para brigar por custos menores

Mesma Aliança

Alguns custos administrativos podem ser suprimidos (ruim para a Italia) pois posições podem ser transferidas para Atlanta

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A Delta representa o que melhor pode acontecer para a Alitalia

 

Empresa capitalizada (super)

Querida das fabricantes (paga bem e compra muito)

Fornecedores Globais super interessados

Força para brigar por custos menores

Mesma Aliança

Alguns custos administrativos podem ser suprimidos (ruim para a Italia) pois posições podem ser transferidas para Atlanta

Concordo Lipe que, em teoria, a Delta seria a melhor parceira. Mas a Alitalia não funciona assim, o Estado italiano quer apenas um trouxa investidor para segurar a empresa por mais cinco anos.

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Parece que a Air France entrou na jogada junto com a Delta:

 

Em italiano:https://mobile.ttgitalia.com/stories/trasporti/149029_air_france_e_il_vecchio_progetto/

 

Pela notícia, o governo espera que a Ferrovia del Stato fique com 20% da nova empresa, o Ministério da Economia converteria parte do empréstimo-ponte de 900 milhões de Euros em ações. Delta e investidores estrangeiros com 49%. Além da FS o governo pode usar a Poste Italiane e a ENI para resgatar a Alitalia.

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Parece que a Air France entrou na jogada junto com a Delta:

 

Em italiano:https://mobile.ttgitalia.com/stories/trasporti/149029_air_france_e_il_vecchio_progetto/

 

Pela notícia, o governo espera que a Ferrovia del Stato fique com 20% da nova empresa, o Ministério da Economia converteria parte do empréstimo-ponte de 900 milhões de Euros em ações. Delta e investidores estrangeiros com 49%. Além da FS o governo pode usar a Poste Italiane e a ENI para resgatar a Alitalia.

 

Gente, que malabarismo estatal pra salvar a Cia, imagino o gabarito do povo apadrinhado pela AZ.

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