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"AF Must Invest In AZ Rescue To Get Stake"  
User currently offlineMindscape From United States of America, joined Apr 2004, 315 posts, RR: 0
Posted (7 years 11 months 4 days ago) and read 4552 times:

In French :
ROME, 24 octobre (Reuters) - Air France-KLM ne pourra entrer au capital d'Alitalia qu'à condition de participer dans un premier temps au financement du plan de restructuration de la compagnie italienne, a déclaré mardi le ministre des Transports italien.

"J'ai lu avec inquiétude les propos de (Jean-Cyril) Spinetta (président d'Air France) lorsqu'il explique qu'Air France ne serait prêt à intervenir qu'une fois terminée la restructuration", a dit Alessandro Bianchi.

"Mais si nous restructurons, nous cèderons Alitalia à qui nous le souhaitons. Cependant, si nous faisons (la restructuration) avec Air France, (Air France) pourrait avoir une option."

La compagnie française a souvent été citée comme un éventuel repreneur d'Alitalia, déficitaire. Mais Spinetta a récemment déclaré qu'il ne comptait pas investir dans Alitalia en l'état actuel des choses.
Bianchi a par ailleurs exclu de désigner un nouveau administateur délégué pour la compagnie déficitaire.

Le président du Conseil italien, Romano Prodi, avait qualifié d'"incontrôlable" la situation d'Alitalia, et promis l'élaboration d'un plan stratégique d'ici janvier. /LL
Source:Reuters 24/10/2006 17:01


Basically in English:
By Reuters Tuesday October 24, 06:45 PM
ROME (Reuters) - If Air France wants a stake in Alitalia it must invest in the airline's restructuring and not wait for that to happen first, Italy's Transport Minister Alessandro Bianchi said on Tuesday.

Bianchi also told reporters the government was not considering appointing a new chief executive to the loss-making airline, which Prime Minister Romano Prodi said must have a rescue plan by January to save it from bankruptcy.


The French version basically says also that Bianchi exhorts AF to invest in the restructuration of AZ if AF-KL wants to get stake in the Italian carrier. Indeed according to him, if AZ is restructuring by itself, then they will let the company go with any other airlines and not particulary with AF, referring that Spinetta once said AF-KL will look at AZ more seriously once the restructuration is done.

10 replies: All unread, jump to last
 
User currently offlineB777A340Fan From United States of America, joined Oct 2005, 774 posts, RR: 0
Reply 1, posted (7 years 11 months 3 days 23 hours ago) and read 4488 times:

I think there was a thread established touching this matter... Hmmm, let me see if I can find a link:

Alitalia on the verge of collapse

I think you'll find some relevant comments  Smile


User currently offlineFrequentflyer From United States of America, joined Jul 2005, 736 posts, RR: 3
Reply 2, posted (7 years 11 months 3 days 23 hours ago) and read 4488 times:

Does AZ's current potential and assets really justify fighting to salvage them?


Take off and live
User currently offlineFlySSC From United States of America, joined Aug 2003, 7412 posts, RR: 57
Reply 3, posted (7 years 11 months 3 days 21 hours ago) and read 4414 times:

Thanks god Spinetta never changed its strategy during the past 3 years.
He said and repeated : AF will not invest 1 cent in AZ (and take the risk to endanger the whole AFKL group) as long as AZ will remain in this disastrous situation, without any deep serious reorganization plan.


User currently offlineBeaucaire From Syria, joined Sep 2003, 5252 posts, RR: 24
Reply 4, posted (7 years 11 months 3 days 21 hours ago) and read 4378 times:

Can't disagree with Spinetta on this one....
He's a great manager - although helped by a very particular situation in terms of airline-closures in France.(but that's another topc..)
If I would be Spinetta I would react the very same way- AZ is an interesting subject and far less negative as some think.The potential and market is there-just the means are not correct.
The possibility the airline signs off with a non-AF associated airline is there.
But the refusal by Prodi to change the general manger is another bad signal sent to the economic community.



Please respect animals - don't eat them...
User currently offlineVarig md-11 From France, joined Jul 2000, 1597 posts, RR: 7
Reply 5, posted (7 years 11 months 3 days 20 hours ago) and read 4332 times:

I agree with FlySCC

there is no way AF invests one cent in AZ as long as they have no clear strategy about the MXP and FCO hubs.

furthermore, one day an italian official claims they want to marry AZ to an "asian" carrier (who??!!), the day after it is said AZ should be deeply rooted in Skyteam
it is sad for AZ, but it looks they're not out of the sh*t with this lack of clear views...and it's too easy to blackmail AF for having them investing in this mess



AF TW AA NW DL UA CO BA U2 TP UX LH SK AZ MP KL SN VY HV LS SS TK SQ PC RG IW SE
User currently offlineMindscape From United States of America, joined Apr 2004, 315 posts, RR: 0
Reply 6, posted (7 years 11 months 3 days 18 hours ago) and read 4274 times:

Quoting B777A340Fan (Reply 1):
think there was a thread established touching this matter...

Indeed, there are good points in this previous thread...
I just wanted to point out the "ultimatum" or "blakmail" aspect (as Varig md-11 said) that Bianchi did today (10/24).


User currently offlineGoldorak From France, joined Sep 2006, 1846 posts, RR: 4
Reply 7, posted (7 years 11 months 3 days 18 hours ago) and read 4270 times:

It would be nice to see AZ more integrated into AF/KLM but I totally agree with JC Spinetta's strategy. The Italians must show positive signals first and we haven't seen any for years !

User currently offlineBuyantUkhaa From Mongolia, joined May 2004, 2899 posts, RR: 3
Reply 8, posted (7 years 11 months 3 days 17 hours ago) and read 4224 times:

Quoting Mindscape (Thread starter):
If Air France wants a stake in Alitalia it must invest in the airline's restructuring and not wait for that to happen first, Italy's Transport Minister Alessandro Bianchi said on Tuesday.

 rotfl  rotfl  rotfl  rotfl 

Those Italian politicians REALLY don't see it, do they....



I scratch my head, therefore I am.
User currently offlineSuske From Belgium, joined May 2006, 8 posts, RR: 0
Reply 9, posted (7 years 11 months 3 days 16 hours ago) and read 4186 times:

Don't forget that KLM, an asset of AF, has had a fling with AZ in the past. A fling that has resulted in a not so stellar morning after for KLM. AF-KL have all the knowledge of doing business with the Italians in house. Actually was their a question for this topic or a direction? Can't remember and so probably anything goes.

I reckon that eventough the shrewd managers of AF-KL will wait for AZ to become a proper airline company that's not run by some italian ministry, they might end up waiting for a flight that is seriously delayed.

Suske



Houdt U van vliegen? Dan zal ik er paar vangen voor U
User currently offlineRCS763AV From Colombia, joined Jun 2004, 4395 posts, RR: 12
Reply 10, posted (7 years 11 months 3 days 13 hours ago) and read 4114 times:

Im 100% on this one with Spinetta. Every troubled company must restructure itself and find a standing point or be at least mildly profitable so that someone wants it. Why do the italians want AF-KL to invest huge amounts of money on a company which has never even seen the light at the end of the tunnel???

AF-KL is for sure interested in AZ but an AZ which is not a mess with huge personal interests, spoiled unions, huge debt and bad hub planning....



Les escribo desde el frío de mi verde altiplano.
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