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Alitalia: MEF (Italian Ministry of Economy and Finance) gives EUR 150 million

The infringement procedure by the EU has now become certain

The Italian Minister of Economic Development Stefano Patuanelli thanked and liquidated the three extraordinary commissioners who in these two and a half years with little transparency and sporadic news of evanescent performances managed to burn the EUR 900 million loan granted by the State, over a million a day, leaving Alitalia on the brink of the abyss. The financial situation of the carrier left by the three previous commissioners is so serious. Analyzing the contents of the Alitalia decree no. 282 of last December 2, it is noticed that the mechanism, outlined in the article 37 of the so-called "Growth Decree" of a few months ago, of participation of the MEF (Italian Ministry of Economy and Finance) in the capital was also abrogated in the "Newco Alitalia" through the use of accrued interest on the first two loans totaling EUR 900 million.

The commissioners should have repaid those interests (not less than EUR 150 million) within 60 days of the constitution of the "Newco", also in order to prevent the first two burdensome loans and the MEF's participation from falling under the ax of State aid legislation, but now everything has faded: they have managed to burn even these resources previously bound by law, so much so that the new decree only provides for an unlikely return in the context of the allocation procedure of the non-existent active of the extraordinary administration; improbability that it is absolute in the sense of the law as with the new decree a new onerous loan of EUR 400 million has been foreseen "for the extraordinary necessity and urgency to ensure the continuity of the service carried out by Alitalia", whose aircraft otherwise would stop, which must be returned with priority over any other debt of the procedure.

It is the same new Minister of Infrastructure and Transport Paola De Micheli who with her statements on the main national newspapers, now "restructuring, then we'll see", elegantly admits that both the previous commissioner management and, above all, the Alitalia crisis policy were both a resounding flop. But the four previous extraordinary commissioners of Alitalia (let us not forget about Gubitosi) in addition to all the thanks and praise received will never be evaluated for the actual results of their management of the Alitalia extraordinary administration, with over a billion Euros burned and no private operator who, in these two and a half years, considered their management interesting?

RC3 - 1226520

AVIONEWS - World Aeronautical Press Agency