10 November 2021, Virtual
London, UK - November 2021
London, UK - December 2021
Troubled airline Alitalia has filed a request with the Italian government to enter administration.
This could lead to the sale or liquidation of Italy’s national carrier.
In a statement Alitalia said a “negative” vote by workers against cuts to pay and jobs means it will be unable to launch its planned turnaround programme and push it towards bankruptcy.
All scheduled flights will continue to run as planned.
“The board has acknowledged the serious economic and financial situation of the Company, of the unavailability of the shareholders to refinance, and of the impossibility to find in a short period of time an alternative…it has decided unanimously to proceed with the filing for “amministrazione straordinaria” (extraordinary administration) in compliance with the Italian law,” the airline said in a statement.
The airline announced a turnaround plan earlier this year as it aimed to cut €1 billion of costs and return the business to profit in the next two years.
In 2014, Etihad purchased a 49 per cent stake in Alitalia.