Alitalia examining new restructuring plan ahead of deadline for repayment of govt loans

21 January, 2020

Alitalia MD Giancarlo Zeni is reportedly examining a new restructuring plan for the airline ahead of the deadline for repayment of government loans by 31-May-2020 (Il Messagero, 19-Jan-2020). The plan includes a review of leasing contracts and a reduction in the fleet of eight aircraft, resulting in an overall reduction in flight crew and ground staff of around 1000. This would reportedly require the cessation of Alitalia's business operations under extraordinary commissioner management and the establishment of a new business entity. Mr Zeni envisaged this would be divided into three separate flight, maintenance and ground handling divisions under a holding company, with debt and redundancies to be retained by Alitalia in liquidation.