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Alitalia (2). Di Maio and his flops

What is true about Toto's negotiations with the government?

The hypothesized entry by Riccardo Toto into the Alitalia shareholder is the last of the coup de théâtre in the carrier telenovela. The news is to be taken with the springs also in consideration of the numerous rumors that proved unfounded that in the last few months have accompanied the "AZ dossier". But if it was to be confirmed it would be the apotheosis of the "new advancing".

The main reason lies in the fact that the Toto family -through Carlo Toto, Riccardo's father- was the owner of Air One which was incorporated in 2008 into Alitalia by the "brave captains", who took charge of the Airbus planes by leasing them from the same Toto at a higher price than those on the market. The company cost Alitalia's coffers 454 million euros plus the takeover of past financial debts which, apparently, were 600 million euros.

Not only Air One, however, because Riccardo Toto also has a history in the ex-Livingston which, having ended up in insolvency proceedings, was assigned to him by the then extraordinary commissioner Daniele Discepolo, who today is part of the Alitalia commissioner triad.

Just Riccardo Toto for the Minister of Economic Development Luigi Di Maio would be the "white knight" that should save the now agonizing ex-flag airline. The Group of the Toto family, through some of its Irish subsidiaries, still today has several disputes opened with Alitalia for approximately 150 million euros of damage estimated by the commissioner Enrico Laghi. But not only that, because the Toto Holding itself, together with Alitalia-Cai, has open disputes with the tax authorities for some foreign operations of the Irish companies -owners of the airplanes- which later merged with the company. This fact can be found in the reports by the commissioners and the same directors who have succeeded one another in Alitalia.

If it was true that Di Maio is negotiating with Riccardo Toto it would be good to explain, also, how this can be compatible with the law in force on extraordinary administration. We can imagine that soon we will find ourselves before the umpteenth flop by the leading exponent of the Government and the M5S on the Alitalia event.

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