art
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AZ Chairman Resigns Ahead Of Meeting

Wed Aug 01, 2007 11:52 am

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?
 
spartanmjf
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RE: AZ Chairman Resigns Ahead Of Meeting

Wed Aug 01, 2007 11:58 am

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!"
 
GRIVely
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RE: AZ Chairman Resigns Ahead Of Meeting

Wed Aug 01, 2007 12:13 pm

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
 
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FlyingJhawk
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RE: AZ Chairman Resigns Ahead Of Meeting

Wed Aug 01, 2007 12:16 pm

Rats abondoning the ship?
 
ikramerica
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RE: AZ Chairman Resigns Ahead Of Meeting

Wed Aug 01, 2007 12:23 pm

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.
 
UAL777UK
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RE: AZ Chairman Resigns Ahead Of Meeting

Wed Aug 01, 2007 4:46 pm

Another nail in the coffin of AZ. Let them liquidate and let another airline be created from the ashes!!
 
Airbus340
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 2:09 am

I still give them 2 more months of life...at least!
 
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TK787
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 2:17 am

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.
 
icarus75
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 4:31 am

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!
 
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LTU932
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 5:25 am

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?
 
baw716
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 6:18 am

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
 
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TK787
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 6:32 am

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.
 
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LTU932
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RE: AZ Chairman Resigns Ahead Of Meeting

Thu Aug 02, 2007 6:44 am

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.