Sudden collapse of Alitalia would be a shock to Italy's economy-minister
A sudden collapse of loss-making Alitalia would be a great shock for Italy's economy, Industry minister Carlo Calenda said Sunday. Rome has thrown the crisis-hit airline a short-term lifeline, a bridging loan of up to E400m (US$436m) to see it through a process whereby an administrator will decide if it can be sold as a going concern or should be liquidated. "It (sudden closure) would be a shock for GDP (economic output) much greater than the scenario that we are looking at: a brief period of 6 months covered by a bridging loan from the govt so as to find a buyer who could provide services that Italians need as travellers," he said. Rival airlines have shown little interest in buying Alitalia and creditors have refused to lend more money after workers last Monday rejected a rescue plan that would have reduced pay and cut 1,700 jobs. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-02/sky/sudden-collapse-of-alitalia-would-be-a-shock-to-italys-economy-minister
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Sudden collapse of Alitalia would be a shock to Italy's economy-minister
A sudden collapse of loss-making Alitalia would be a great shock for Italy's economy, Industry minister Carlo Calenda said Sunday. Rome has thrown the crisis-hit airline a short-term lifeline, a bridging loan of up to E400m (US$436m) to see it through a process whereby an administrator will decide if it can be sold as a going concern or should be liquidated. "It (sudden closure) would be a shock for GDP (economic output) much greater than the scenario that we are looking at: a brief period of 6 months covered by a bridging loan from the govt so as to find a buyer who could provide services that Italians need as travellers," he said. Rival airlines have shown little interest in buying Alitalia and creditors have refused to lend more money after workers last Monday rejected a rescue plan that would have reduced pay and cut 1,700 jobs. <br/>
