Alitalia, the brand of the flagship airline, goes up for auction. Commissioner Giuseppe Leogrande will sell the historic brand of the Italian carrier known all over the world, together with airport slots and the MilleMiglia program.
Alitalia at auction: the reasons for the sale of the former national airline
The tender is expected to arrive next week. A need dictated by both European regulations and the need to raise cash by the company under extraordinary administration, to repay at least in part the many creditors of Alitalia, commissioned in May 2017.
Whether they will be open has yet to be determined different procedures for selling the company’s assets or if they will be sold in a single solution. Eventuality, the latter, difficult to predict given that among other things the planes will gradually have to pass from Alitalia to Newco Ita, the public company led by the CEO Fabio Lazzerini which should start flying from April.
But it’s not just the fleet that has market value. The Alitalia brand has it, especially for the results of the latest rankings on punctuality obtained by the company, which in this way has managed to recover a certain degree of credibility.
Alitalia at auction: the value of assets
Despite several months of travel blocking due coronavirus, in a complicated year like 2020, the Italian carrier is indeed the result the most punctual in Europe and third in the world among full service (not low-cost) airlines. As certified by Cirium’s FlightStats, a company that each month draws up the rankings of all the main airlines in the world, 93.2% of flights over the last twelve months Alitalia landed on time.
Also thanks to this recognition, in line with the last two previous years, according to some estimates, the brand could profit between 50 and 70 million euros.
The flight codes, the program MilleMiglia, with a very attractive customer archive inside, and the slot of the main London airport, which together should be worth between 130 and 150 million euros.
The industrial plan presented by the CEO and President Francesco Caio is under examination by the Commissioner for Competition Margrethe Vestager which to grant the approval of Brussels calls for a strong discontinuity with the past.
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