On the fact that Alitalia has burned billions of euros of money from Italian taxpayers there are few doubts. It is written in the balance sheets of what was once the flag carrier, in the recapitalisations and in the various bridging loans. Euphemism, the latter, to define loans that will never be repaid. Today we are faced withyet another loan (900 million) consumed by an Alitalia that is in fact dead. And at the birth of a new airline (Ita) that should take its place, hopefully not the legacy. At the top of the new company there are two really tough managers, Fabio Lazzerini which comes from the air market, e Alfredo Altavilla, formerly Marchionne’s right arm. On paper it is difficult to find better. They obtained, after “having done a counter with Europe” (as Lazzerini confessed), a meager booty: about fifty planes that they can obtain from the old Alitalia, quite a few of its routes (and this is true) and less of three thousand employees (and their contracts are already buzzing). The Italian state puts its hand back on its portfolio and pulls out 1.35 billion. On the one hand, the European Commission condemns Italy for the last loan of 900 million not repaid, on the other hand it authorizes the recapitalization for 1.35 billion since the industrial plan presented seems market-oriented.
Pessimists, many, and optimists, few, about the future of the new creature clash with the usual arguments. The reality is that we should all agree instead to consider the European commissioners as drivers without a license. The Competition Commissioner (Vestager) who handled the dossier imposed halter conditions. Ita does not have the Alitalia brand that will have to be auctioned, in which Ita itself can also participate. It should leave with its flights on October 15 and it is not clear whether for that day Altavilla and Lazzerini will have the liveries of the airplanes with the right name. The mille miglia loyalty program cannot remain in the hands of the new company. Who knows why. Some slots have been cut to feed the competition and the possibility, from origin, of freely managing handling and maintenance has been closed.
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