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CLARA MOSCHINI

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Government: final go-ahead for the extension of the Alitalia bridge loan

Deadline to 30 June 2019

The Chamber of Deputies voted -yesterday- the trust on the decree Simplifications, and tomorrow's final vote on the provision will be practically only a formality since the Government can count on a large majority (310 yes, 245 no and 1 abstention). A green light arrived after a vote of confidence made mandatory by the deadline of February 12 of the deadline to convert the law decree on support and simplification of businesses and public administration. Among the planned measures there is also the announced extension until June 30, 2019 for the restitution of the bridge loan of € 900 million for the Alitalia carrier, which will have to be reimbursed in full plus the interest that will make it rise to almost 1.2 billion euros. One way for the Government to give additional time to Railways of the State to carry out negotiations to find the international industrial partner, as well as the Ministry of Economic Development (MISE) committed to identify the public companies to be involved in the "new" Alitalia. It is not yet clear, inter alia, if part of the bridge loan will be converted into Alitalia's shares, so as to reduce the impact on the airline's finances and at the same time allow the Ministry of the Economy and Finance to at least 15% of the quotas of the airline.

M/A - 1218565

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