Alitalia’s liquidity is running out, the airline must find E1b to have a future
There’s only a month left before their liquidity runs dry at the end of March. At that point, Alitalia will no longer be able to afford to fuel their airplanes, or to pay the salaries of 12,000 employees, the airports’ fees, the leasing payments on the airplanes and their other suppliers. The airline nearly halted activities just before Christmas, when the ailing company already had a negative balance. This year, Alitalia predicts more than E600m in operating losses. It’s almost reached an average of E2m in losses per day. 2017 should have been the year for them to break even in terms of operating and net profits, according to the plan launched in Aug 2014 by their new partner Etihad. In the first 2 years since Etihad joined (2015 and 2016), the “new” company had over E1b in operating losses. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-27/sky/alitalia2019s-liquidity-is-running-out-the-airline-must-find-e1b-to-have-a-future
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Alitalia’s liquidity is running out, the airline must find E1b to have a future
There’s only a month left before their liquidity runs dry at the end of March. At that point, Alitalia will no longer be able to afford to fuel their airplanes, or to pay the salaries of 12,000 employees, the airports’ fees, the leasing payments on the airplanes and their other suppliers. The airline nearly halted activities just before Christmas, when the ailing company already had a negative balance. This year, Alitalia predicts more than E600m in operating losses. It’s almost reached an average of E2m in losses per day. 2017 should have been the year for them to break even in terms of operating and net profits, according to the plan launched in Aug 2014 by their new partner Etihad. In the first 2 years since Etihad joined (2015 and 2016), the “new” company had over E1b in operating losses. <br/>
