Company Watch - Alitalia.Oct 16, 2006 Alitalia Needs Restructuring, Not More Aid - EU. The solution for loss-making Italian airline Alitalia lies in a restructuring of the company rather than more state aid, the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community said on Wednesday. Oct 11, 2006 Alitalia Group acknowledged last week that its airline unit will not break even this year as it predicted in its business plan and admitted that survival will be difficult despite this year's state-guaranteed [euro]1.3 billion ($1.7 billion) recapitalization. Alitalia noted in a report obtained by Il Sole 24 Ore Il Sole 24 ore (IPA: [il'soː.le ven.ti.kwat'troː.re]; Literally Italian Meaning: "the sun 24 hours . The document precedes a meeting between the government and Alitalia's unions scheduled for Tuesday and a parliamentary hearing with the carrier's chairman and 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. , Giancarlo Cimoli, the following day. Alitalia blamed the Civil Aviation Authority Civil Aviation Authority civil (Brit) n → Behörde f für Zivilluftfahrt , excessive union power and LCCs. It argued that Italy's airline sector needs more consolidation. It is keen to join 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 KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) but the group repeatedly has insisted Alitalia must be profitable before discussions can move forward. Oct 9, 2006 Alitalia reported a first-half net loss of [euro]221.5 million and is expected to post a full-year loss of at least [euro]300 million before one-off capital gains. Oct 9, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Oct 9, 2006 |
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