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Going Once..Going Twice..Gov't Opens AZ Auction  
User currently offlineNycfly75 From Italy, joined Aug 2005, 759 posts, RR: 9
Posted (7 years 8 months 4 days 7 hours ago) and read 1512 times:

The Italian Government officially opened the bidding process for the sale of at least their stake in Alitalia. The bidder must make an offer of at least 30.1%, which then according to Italian law, the buyer can make an offer for the entire company. Some sale requirements are as follows:

-Maintaining AZ's Italian and Brand Identity
-Guaranteeing Service and Coverage Quality

Interested Buyers include:

AirOne with Banca Intesa
Meridiana (which just bought a stake in Eurofly)
Alpi Eagles
AF/KL (looking less likely now)

Bids are due by January 29th.


http://news.yahoo.com/s/afp/20061229...italytransportairline_061229130332

[Edited 2006-12-30 17:51:43]

3 replies: All unread, jump to last
 
User currently offlineLumberton From United States of America, joined Jul 2005, 4708 posts, RR: 20
Reply 1, posted (7 years 8 months 4 days 7 hours ago) and read 1486 times:

Will any new owner have a requirement to keep existing labor agreements in place? Will the new owner have authority and flexibility in restructuring the airline as it sees fit? Frankly, anyone investing in AZ is just buying trouble IMO. From the article:

Quote:
Alitalia meanwhile faces another in a series of strikes on January 19.



"When all is said and done, more will be said than done".
User currently offlineNycfly75 From Italy, joined Aug 2005, 759 posts, RR: 9
Reply 2, posted (7 years 8 months 4 days 7 hours ago) and read 1481 times:

Looks like they have to guarantee jobs too:

Fair Use:
"Potential buyers for Alitalia must guarantee the airline's 18,000 jobs, national routes and the Italian identity of the Alitalia brand, the Economy Ministry said Friday."

http://biz.yahoo.com/ap/061229/italy_alitalia.html?.v=4

[Edited 2006-12-30 18:00:05]

User currently offlineLTU932 From Germany, joined Jan 2006, 13864 posts, RR: 50
Reply 3, posted (7 years 8 months 4 days 7 hours ago) and read 1448 times:

How can they be forced to guarantee jobs if AZ, even if they survive beyond 2007, needs to downsize? This partial buyout is already doomed from the start if the Italian government keeps insisting on the buyer having to guarantee all existing jobs. Jobs will eventually have to be cut if AZ wants to survive.

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