Is Alitalia going out of business?

Is Alitalia going out of business?

Alitalia Argentina

Thus ends a history of successes, but also of continuous failures in its management, with losses of 1.8 billion euros for the State coffers, which is now once again responsible, under the watchful eye of the European Union, for another flag carrier, Italia Transporte Aereo (ITA), which can guarantee the first flights essential for connections in the country.

After the first Rome-Turin flight in 1947, Alitalia became one of the internationally preferred airlines for its attention to passengers. In 1960 it was official sponsor of the Rome Olympic Games and in the following decades international routes were opened, especially in America and the Orient.

The agreement provided for the relocation of the hub from Rome-Fiumicino to Milan-Malpensa and the closure of almost all flights from Milan’s Linate airport, but in April 2000 KLM decided to terminate the alliance and the first privatization attempts began, which lasted until 2007, when Air France-KLM’s bid was accepted.

Alitalia’s situation today

Alitalia S.A.I. operated services to 28 domestic and 70 international destinations in 50 countries in Africa, America, the Middle East, Asia and Europe. Its fleet operated under five different AOCs due to CAI’s origins: Alitalia-CAI (Alitalia) [IATA Code AZ], Alitalia CityLiner (former Air One CityLiner) [IATA Code CT], CAI-First (former Alitalia Express) [IATA Code XM], Air One [IATA Code AP] and the CAI-Second (former Volare Airlines) [IATA Code VE].

On August 26, 2008, a group of Italian entrepreneurs, together with Intesa Sanpaolo, one of Italy’s largest banks, founded Compagnia Aerea Italiana (CAI) with the aim of buying the brand and some of the assets of bankrupt Alitalia-Linee Aeree Italiane and combining these with Air One, its main competitor in Italy. Only the Alitalia brand would be retained for the new merged company.[4] On October 30, 2008, the CAF announced the merger of Alitalia-Linee Aeree Italiane and Air One.

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On October 30, 2008 CAI offered €1.1 billion to acquire part of the bankrupt airline. The offer was submitted to Alitalia’s bankruptcy trustee despite the refusal of some pilots and cabin crew unions to the rescue plan. The bankruptcy trustee and the Italian government, Alitalia’s main shareholder, accepted CAI’s offer on November 19, 2008. Alitalia’s profitable assets were ceded to CAI on December 12, 2008 after payment of €1,052,000,000,000 (US$1.33 billion), consisting of €427 million in cash and the assumption of liabilities for €625 million in Alitalia debt.[5] Alitalia airline ticket.

Alitalia closes operations

The pontiff will use an Ita plane on Dec. 2 to fly the 2,148 kilometers from Rome to Larnaca Airport in Cyprus, where he will begin a four-day visit, the Vatican said.

The new company, state-owned through the Ministry of Economic Development, will retain Alitalia’s historic logo after paying 90 million euros on Thursday night, although the new planes will be blue with the new name in white, red and green, the colors of the Italian flag.

Alitalia, which was dissolved after a long period of bailouts that cost the Italian state some 13 billion euros, had been founded on May 5, 1947 and culminated its operations with a flight between Cagliari and Rome.

In addition to having been a symbol of Italian industry, Alitalia was also in charge of transporting all the Popes out of Italy since 1964, when Paul VI went to the Holy Land, and up to the recent visit of Pope Francis to Budapest and Slovakia, with a total of 171 trips.

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Ita airways

The historic Italian airline announced that it will stop issuing tickets, triggering a countdown of a few weeks until its familiar red and green livery disappears from our skies for good.

When Italian families returned home from a trip far away and set foot on an Alitalia plane, and the stewardess greeted them with a warm “buongiorno” and served them steaming spaghetti with tomato sauce and cotoletta alla Milanese for lunch, it was like coming home. To kill time, passengers could read Italian national newspapers.

Is Alitalia going out of business?
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