Italy’s govt has indicated that it will renationalise struggling Alitalia as part of a broad set of emergency measures in response to the coronavirus outbreak. The govt says, in a decree published March 16, that the epidemic is being formally recognised as a “natural disaster and exceptional event”. It states that, given the damage to the entire aviation sector resulting from this event, public-service measures will compensate and allow the continuation of activities. “The establishment of a new company is authorised, entirely controlled by the ministry of economy and finance,” it adds, in reference to the situation facing Alitalia and its regional CityLiner division, both of which are in extraordinary administration. <br/>
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Delta Air Lines and American Airlines Group are in talks to arrange billions of dollars in new financing amid a broad rush for cash by airlines, casinos and other companies with revenue hit by the coronavirus pandemic, according to people familiar with the matter. Delta is in discussions with banks, led by agent JPMorgan Chase to raise between US$2b and $4b with a 364-day secured term-loan facility, the people said. American also is negotiating a multibillion-dollar 364-day secured term-loan facility. President Donald Trump said Monday the US govt would strongly back the nation’s airlines, hours after the industry said it needed $58b in aid. A4A released a memo Monday outlining urgent needs and describing a dire financial situation. <br/>