Company Watch - Alitalia.Jan 22, 2007 Air France Air France in full Compagnie Internationale Air France French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Quits Alitalia Board. The head of Air France-KLM Air France-KLM (Euronext Paris: AF, NYSE: AKH) is an airline company incorporated under French law with its headquarters at Roissy-Charles de Gaulle Airport near Paris, France. has resigned from the board of Alitalia, allowing the French airline to keep its options open on a possible bid for the unprofitable Italian flag carrier. Jan 17, 2007 Alitalia is attracting the interest of Rothschild investment bank, which is forming a consortium of Italian and international investors to present a bid for the stake being sold by the Italian government, according to several press reports. The consortium will include privately held Italian carriers Air One and Meridiana and two US private-equity funds. Italian bank Intesa Sanpaolo also is involved. Select SkyTeam airlines led by Air France KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) and Milanese businessman Paolo Alazraki reportedly are interested as well. The government, which holds 49.9% of AZ, is marketing 30.1% of the struggling flag carrier and may sell the rest if the right offer is made. By law, a buyer of the 30.1% stake will be obliged to make an offer for all AZ shares. The government is accepting expressions of interest until Jan. 29. Jan 10, 2007 Alitalia Unions Wary After Meeting Financier. Trade unions representing workers at Alitalia remained wary on Tuesday after meeting with a little-known Italian financier who has expressed an interest in buying a stake in the airline. Jan 9, 2007 Investment bank Rothschild is working on a consortium of investors who aim to bid for a stake in Alitalia that Rome is putting up for sale, a source close to Rothschild said on Tuesday, confirming press reports. Asked whether the bank was looking at forming a consortium for the ailing airline's privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned , the source said: "Yes". The Italian government has opened the bidding process for the sale of at least 30.1 percent of its 49.9 percent stake in Alitalia and will accept expressions of interests until January 29. Several newspapers said on Tuesday the Rothschild-led consortium for the airline would include Italian as well as two US funds. Jan 9, 2007 Italian government's offer to cede control of Alitalia has domestic media buzzing about potential suitors. Finanza Mercata said Air France KLM, which always has been considered a potential buyer, will join with SkyTeam partners Korean Air, AeroMexico and CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. Czech Airlines to bid for AZ. Italian Transport Minister Alessandro Bianchi reportedly told Radio 24 that he "would not be happy" if AF KLM took control of AZ but that he "would adapt to it." Italian businessman Paolo Alazraki told Italian media he is heading a consortium of 16 investors prepared to buy AZ and return it to profitability within two years without cutting jobs. "The plan. . .excludes the sale of assets and land," he said. "It is based on one or two solid international alliances [not AF KLM] an on an agreement with trade unions." Jan 8, 2007 Kuwait Airways and Alitalia will codeshare on KU's thrice-weekly service to Rome Fiumicino effective Jan 14. Jan 10, 2007 Smaller Italian airline Meridiana, which is controlled by Prince Karim Aga Khan, is also expected to put in a bid for Alitalia, according to press reports. Last month, Meridiana bought 30 percent of fellow carrier Eurofly. Little-known Italian financier and consultant Paolo Alazraki said last week he was working with 16 unidentified investors to study a bid for Alitalia, the first open expression of interest in the carrier. Alitalia, which has a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of about EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.47 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $1.91 billion), has not made an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. in the last five years. Long-term potential suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) Air France has so far made no comment on the Alitalia sale. The two airlines own a 2 percent stake in each other. Jan 9, 2007 01/22/2007 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Jan 8, 2007 |
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