The Italian government has taken another step towards the state-controlled restructuring of the insolvent air carrier Alitalia. It approved the creation of a new national airline to take over Alitalia’s assets. The plan to nationalize the airlines, which was delayed by political disagreements, has yet to be approved by the European Commission (EC), Reuters reported.
Italian Minister of Economy and Finance Roberto Gualtieri noted that the government had taken a step “The cornerstone for the revival of Italian air transport”. According to him, the goal is to create “High quality transport company”which will be able to compete in the international market.
“A new Italian flag carrier has been born,” said Italian Transport Minister Paola De Micheli to approve the creation of the new company. She also expressed the belief that the company will be profitable. The newly created company will be called Alitalia ITA, wrote the APA agency.
Alitalia has not reported any profits since 2002 and has been insolvent since May 2017. The Italian government has repeatedly supported Alitalia financially. A few months ago, in connection with the negative effects of the coronavirus crisis, she promised her help in the amount of three billion euros (approximately 81 billion CZK), the DPA agency reminded her.
Alitalia was last in profit in 2002. The carrier is trying to take advantage of mainly low-cost companies. For example Wizz Air recently started offering domestic flights in Italy.