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September 2022, Virtual
September 29 2022, Virtual
Two of the four directors of troubled Italian carrier Alitalia, have resigned.They are Jean-Cyril Spinetta, who is chairman and ceo of Air France KLM, and Gabriele Checchia.The departures leave the board of the national carrier inquorate as its articles stipulate it must have three to five directors. The remaining directors are Giancarlo Cimoli, the ceo, and Giovanni Sabatini, who represents the Italian government.The board is also due to meet this Friday, January 19th.Announcing Mr Spinetta's resignation, Air France said in a short statement: "Since the Italian Government has launched a bid to acquire stakes in the capital of Alitalia and as Air France KLM is a partner of Alitalia, the Air France KLM chairman can no longer sit on the board of directors."Air France KLM owns a 2% in Alitalia and has often been seen as a possible buyer of the ailing airline. They are both members of the SkyTeam Alliance.On Mr Checchia's resignation, an Alitalia statement said: "He pointed out that his current position as Italian Ambassador to Lebanon made it impossible for him, unfortunately, to continue his directorship with the necessary diligence, especially in view of the particularly delicate and important phase the company is going through."Mr Checchia does not hold any shares in Alitalia and nor was he a member of any of its internal committees.The Italian government, which owns 49.9% of Alitalia, this month invited bids from potential investors interested in taking a minimum of 30.1% in the airline.Reports have suggested that both Italian and US investment companies are planning a possible offer for the airline which has not made a profit for five years and seen several survival plans fail to turn round it s fortunes.The deadline for would be investors is January 31.
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