What is happening to Italy ?
Last week it was italian property for sale for 1 Euro in Sicily (which you can apply for at www.mipc.co.uk click the banner above.) and this week its Alitalia up for sale.
Augusto Fantozzi today Tuesday 23 september 2008 in 3 national Italian newspapers ; and 1 international newspaper, should be the London FT, has offered to the world his last attempt to save Alitalia.
Further to many salvage packages;
1. Air France, pulled by Berlusconi, in his manifesto he promised one of his first duties was to save Alitalia. Failed.
2. €300M state aid. Failed.
3. CAI (Compagnia aerea italiana) ; some unions just want too much and the union members who said “Better bankrupt than in the hands of robbers”…Do these people really want a job and would you buy a company whose employees have that mentality. Failed.
Now the government appointed administrator, Fantozzi, has certain responsibilities to protect his own legal duty.
He must be seen as trying to save the company. Otherwise he too may have personal problems when he announces bankruptcy.
If Lufthansa want the most lucrative cargo division ? or Air One, Carlo Toto, the Italian low budget airline, want the best of the airline stock then we may see a result, but more than likely by Friday when no one has made an offer, I mean would you wait for it to be advertised on the net if you were seriously considering buying an airline like Alitalia, the last one out can turn out the lights.