Fancy buying an airline? Italian airline Alitalia will be put up for sale in two weeks, after it entered administration earlier this week.
According to Buying Business Travel, the carrier went into what they’re calling “extraordinary” administration on Tuesday after Alitalia staff delivered a big fat no to a €2 billion restructuring plan.
However, the airline continues to operate services as normal, with flights running for the next six months, per The Sun UK.
Carlo Calenda, Italy’s economic development minister, said in a radio interview that the commissioners dealing with Alitalia’s administration “will be open to expressions of interest” for the airline within two weeks.
He also insisted the Italian government was intent on selling the airline as a whole. Per BBT, the Italian government has fronted a loan of €600 million to keep the airline, running but this will only be available for around six months, hence the deadline on operations.
Etihad, which has a 49 per cent shareholding in Alitalia, said it was no longer willing to keep up funding for Alitalia, after employees voted against the restructuring plan last week.
Per BBT, James Hogan, Etihad’s CEO, added, “We have done all we could to support Alitalia, as a minority shareholder, but it is clear this business requires fundamental and far-reaching restructuring to survive and grow in future.
“Without the support of all stakeholders for that restructuring, we are not prepared to continue to invest.
“Italy remains an important market for us and we will continue to work with Alitalia as a commercial partner alongside our own presence in Italy.”