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Alitalia: the old directors have been condemned also on Appeal

Prescribed a minor crime

From what AVIONEWS have heard, the Second Section of Court of Appeal of Rome, in its session of November 9th, confirmed the sentences of the first degree of judgment (see AVIONEWS), although reducing them by one year for the onset of a minor offense for the directors of Alitalia in the period 2001-2007.

The determined convictions are:

Giancarlo Cimoli (CEO of Alitalia from May 2004 to February 2007) for bankruptcy and insider trading at 7 years (8 years in first instance);

Francesco Mengozzi (CEO of Alitalia from February 2001 to February 2004) at 4 years (5 years at first instance);

Gabriele Spazzadeschi (ex-director of Administration and Finance) at 4 years (6 years in the first degree);

Pierluigi Ceschia (ex-head of Extraordinary Finance) at 4 years (first grade 6 years and six months).

In about 90 days the Court of Appeal of Rome will publish the reasons of the sentence where it will be possible to know the justifications for the conviction, but this ruling would confirm that the losses caused between 2001 and 2007 were due to "nefarious" operations by the management of Alitalia, which had caused a deficit of around 4 billion euros.

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