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AZ Chairman Resigns Ahead Of Meeting  
User currently offlineArt From United Kingdom, joined Feb 2005, 3382 posts, RR: 1
Posted (7 years 1 month 2 weeks 5 days 6 hours ago) and read 2577 times:

Just heard on the BBC TV business programme that the chairman of Alitalia has resigned. Is there now any chance of anything being decided at the recovery meeting scheduled for this week?

12 replies: All unread, jump to last
 
User currently offlineSpartanmjf From United States of America, joined Nov 2005, 503 posts, RR: 0
Reply 1, posted (7 years 1 month 2 weeks 5 days 6 hours ago) and read 2562 times:

From the press office section of Alitalia's website:

RESIGNATION OF THE CHAIRMAN

Prof. Berardino Libonati, attorney at law, resigned from his positions as Chairman and
as a Director of Alitalia, today.

While reminding that the reason that had led him to accept the appointment was tightly
related to the sale procedure fostered by the Company’s majority shareholder, Prof.
Libonati explained his resignation as the result of the closing of such a procedure and of
the perspectives for the Company to face the opening to more appropriately operative
solutions and recognized the need to suitably entrust managerial capacities and
experiences and sector skills.

It is worth reminding that Prof. Libonati held a position as an independent, and not as
an executive director, since he had never been conferred management powers.

July 31st 2007



"Nuts to the man in 21D!"
User currently offlineGRIVely From United States of America, joined Dec 2006, 139 posts, RR: 0
Reply 2, posted (7 years 1 month 2 weeks 5 days 6 hours ago) and read 2542 times:

That certainly is an informative explanation provided by the Alitalia press release. Not.

Seems to me like the sound of water lapping at the Alitalia floorboards is getting louder. Look for more more key players to depart shortly so as not to be onboard when the ship finally sinks.

GRIV


User currently offlineFlyingJHawk From United States of America, joined Mar 2007, 88 posts, RR: 3
Reply 3, posted (7 years 1 month 2 weeks 5 days 6 hours ago) and read 2536 times:

Rats abondoning the ship?

User currently offlineIkramerica From United States of America, joined May 2005, 21529 posts, RR: 59
Reply 4, posted (7 years 1 month 2 weeks 5 days 6 hours ago) and read 2528 times:

Translated: "I was hired to help sell the airline. Since the government and the unions seem to be making that impossible, what the hell am I here for? Libonati... OUT!"


Of all the things to worry about... the Wookie has no pants.
User currently offlineUAL777UK From United Kingdom, joined Nov 2005, 3356 posts, RR: 1
Reply 5, posted (7 years 1 month 2 weeks 5 days 1 hour ago) and read 2444 times:

Another nail in the coffin of AZ. Let them liquidate and let another airline be created from the ashes!!

User currently offlineAirbus340 From Spain, joined Dec 2000, 130 posts, RR: 0
Reply 6, posted (7 years 1 month 2 weeks 4 days 16 hours ago) and read 2252 times:

I still give them 2 more months of life...at least!

User currently offlineTK787 From United States of America, joined Jan 2006, 4434 posts, RR: 12
Reply 7, posted (7 years 1 month 2 weeks 4 days 16 hours ago) and read 2233 times:

Quoting Airbus340 (Reply 6):

Oh please, make it so. I have a return ticket with them to come back to JFK on Sept. 24th. That will be perfect.
I called AZ today, and to my surprise they said even though I have a non refundable ticket, they would refund the tax portion of it if I wanted. That is almost half of the price of the ticket. But probably if I wait and they go bankrupt I would not even get that. I guess I will wait and see, just like AZ.


User currently offlineIcarus75 From France, joined Oct 2003, 798 posts, RR: 0
Reply 8, posted (7 years 1 month 2 weeks 4 days 14 hours ago) and read 2151 times:

As I live in Milan for the work until end of December, I've already booked and paid several round trips to go back to Paris on Air France Italy site.

The legs LIN-CDG are all with AF.
Some of the legs CDG-LIN/MXP are operated by XM (Alitalia Express)

What do you think will happen if AZ goes down?



Flying is amazing!
User currently offlineLTU932 From Germany, joined Jan 2006, 13864 posts, RR: 50
Reply 9, posted (7 years 1 month 2 weeks 4 days 13 hours ago) and read 2103 times:

Quoting FlyingJHawk (Reply 3):
Rats abondoning the ship?

Not to mention with a probably very golden parachute.

Quoting TK787 (Reply 7):
Oh please, make it so. I have a return ticket with them to come back to JFK on Sept. 24th. That will be perfect.
I called AZ today, and to my surprise they said even though I have a non refundable ticket, they would refund the tax portion of it if I wanted. That is almost half of the price of the ticket. But probably if I wait and they go bankrupt I would not even get that. I guess I will wait and see, just like AZ.

If you paid with a credit card, can't you still request a chargeback in case AZ does go belly up?


User currently offlineBAW716 From United States of America, joined Nov 2003, 2028 posts, RR: 27
Reply 10, posted (7 years 1 month 2 weeks 4 days 12 hours ago) and read 2061 times:

LTU...

Quoting LTU932 (Reply 9):
If you paid with a credit card, can't you still request a chargeback in case AZ does go belly up?

Short answer: YES. At least if you live in the USA; the laws and the credit card companies here will protect you in the event that an airline goes sideways...at least if you are paying with a credit card and not with a debit card (from your bank account). In Europe, the laws are different; I would strongly urge that you contact your credit card company in Europe, just in case.

As to the question of AZ liquidating, I really doubt that will happen. As someone else stated, the Italian government is trying to find a way to save their asses, because if 6000-7000 people lose their jobs at AZ, especially in Rome or Milan, there will be politicians shot on sight (not literally...); it would most certainly cause the fall of the existing Italian government...which may or may not be a good thing. I don't know enough about the domestic political situation in Italy to render an informed opinion.

I have spoken with people who are with investment groups and there may be another round of the government trying to buy its way out of the situation; however, until the laws are changed weakening the power of the unions to create havoc whenever they want (railway act here prevents strikes against transportation entities in the USA...although that hasn't stopped them from doing other things); nothing will change at AZ.

baw716



David L. Lamb, fmr Area Mgr Alitalia SFO 1998-2002, fmr Regional Analyst SFO-UAL 1992-1998
User currently offlineTK787 From United States of America, joined Jan 2006, 4434 posts, RR: 12
Reply 11, posted (7 years 1 month 2 weeks 4 days 12 hours ago) and read 2050 times:

Quoting BAW716 (Reply 10):
Quoting LTU932 (Reply 9):If you paid with a credit card, can't you still request a chargeback in case AZ does go belly up?

Short answer: YES. At least if you live in the USA; the laws and the credit card companies here will protect you in the event that an airline goes sideways...at least if you are paying with a credit card and not with a debit card (from your bank account).

Hi there,
I have posted this in another thread, but here it is. Surprise, surprise... I have bought the ticket using UA Mileage Plus Visa Credit Card, and I live in the US. Actually this was two weeks ago, and don't know why but I wasn't aware that AZ was in this bad shape. After all the AZ threads here, I called Visa to find out what they can do, and to my surprise, nothing. They say if AZ goes bankrupt I will get zero from them. Then I wanted to get travel insurance to cover the ticket cost in case of AZ to go into financial default. No insurance co. would insure my travel after hearing the word AZ.
So I wait and see.


User currently offlineLTU932 From Germany, joined Jan 2006, 13864 posts, RR: 50
Reply 12, posted (7 years 1 month 2 weeks 4 days 11 hours ago) and read 2028 times:

Quoting TK787 (Reply 11):
I have posted this in another thread, but here it is. Surprise, surprise... I have bought the ticket using UA Mileage Plus Visa Credit Card, and I live in the US. Actually this was two weeks ago, and don't know why but I wasn't aware that AZ was in this bad shape. After all the AZ threads here, I called Visa to find out what they can do, and to my surprise, nothing. They say if AZ goes bankrupt I will get zero from them. Then I wanted to get travel insurance to cover the ticket cost in case of AZ to go into financial default. No insurance co. would insure my travel after hearing the word AZ.
So I wait and see.

That sounds really bad. Seems like in a way, just the fact that you booked AZ has gotten you SOL for the case they fold. I hope you'll eventually get it sorted out.


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