“Unrealistic to pay 290 million” – Corriere.it

“Unrealistic to pay 290 million” – Corriere.it
“Unrealistic to pay 290 million” – Corriere.it

The base price of 290 million euros to buy the Alitalia brand in a tender is branded as unrealistic by the president of Italia Transport Aereo, the airline that is also the main candidate to take over the logo. Alfredo Altavilla does not hide his opinion which he considers personal, publicly confirming his intention not to overpay and giving voice to the perplexities that emerged in private from the various experts who talking about it with the Corriere della Sera they attribute to the name a value of no more than 145-150 million euros. The president presented himself to the hearing before the committees of the Chamber together with the CEO Fabio Lazzerini.

The decision of the Board of Directors

The announcement surprised us with the values ​​obtained, which I personally would define unrealistic, for a company that in eleven years has generated three and a half billion operating losses, explains Altavilla. It seems to me an unrealistic assessment and we have to stay with the market. We have called an extraordinary board of directors next Friday to look into the matter. Even if, as the president said, the final decision will be up to the board of directors, it is likely that the newco will aim for a first phase of the tender without binding offers which would then lead to a second phase (with a lower starting price) or even the third, when the commissioners of Alitalia will be able to proceed with the sale of the brand without procedural constraints towards the economic operator they have identified, as stated in the announcement.

The replica of Alitalia

The exit of Altavilla has created some grumbling in the Alitalia commissioner three. Who a few hours later replied with a press release: In relation to what was declared today by the president of Ita, Alfredo Altavilla – they write – and in particular to the fact that the assessment of the Alitalia brand would be “unrealistic”, the commissioners of Alitalia in administration extraordinary confirm that the estimate represents the minimum value resulting from an appraisal, required by law and carried out by a third-party professional appointed by the procedure, subject to the favorable opinion of the supervisory committee.

The tight deadlines for take-off

The hearing of the leaders of the new airline was not an easy one, even if it was classified. Ita has to leave on 15 October for the simple reason that Alitalia has stopped flying from 15 October. There are no possible alternatives: you have to do everything to leave, continues Altavilla. This is why the president is in a hurry, which for now has led to the break with the unions: the National Civil Aviation Authority (ENAC) – the president told the deputies – has asked the newco to present the list of crews that they will be in the fleet by 23 September and the company has started hiring on the basis of curricula, merit and experience, Altavilla later specified.

The wages node

As for the trade union criticisms on the important cut in wages proposed by Italia Transport Aereo – according to them not only lower than Alitalia, but also low cost ones – Altavilla replies that the wages of Ita employees are absolutely aligned and in some cases even higher than those of other traditional carriers (such as Lufthansa, Air France-KLM, Iberia, ed) as demonstrated to the commission. At the hearing, the president also explained that among the pilots who sent their CVs to be hired by the newco there would also be several from Ryanair. On relations with trade unions, Altavilla told deputies that the discussion will resume – in a single confrontation with all parties – a year after take-off.

Political reactions

The parties also intervene on the Ita-Alitalia dossier. We ask for a discussion table with the government, first of all to understand if the choices that the governance of the newco is making these days are shared by the executive, says Senator Salvatore Margiotta (Pd) after the meeting of Pd-M5S and Leu with the trade unions. We listened to the workers’ representatives and they all have the same version of the facts: that is, that there is an attitude on the part of the Ita executive that is very “dominant”, of “I decide and I don’t even care to talk to you”, adds the Senator M5S Giulia Lupo. We ask that everything be stopped now: we are waiting to have a confrontation with the government, because if this is the will of Ita a speech, if the will of the government is another. On the basis of these two positions, we will obviously have to act accordingly. The government must intervene and stop an unreliable operation on the industrial and financial side and inadmissible on the social side, attacks Stefano Fassina, deputy of the LeU.


Unrealistic pay million Corriereit

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