Three days after reports emerged that Lufthansa (LH, Frankfurt International) was ready to invest up to EUR200 million euros (USD224 million) in Alitalia (AZA, Rome Fiumicino), the newspaper Il Corriere della Sera reported on October 3 that two sources had said that Delta Air Lines (DL, Atlanta Hartsfield Jackson) could exit the rescue consortium.
Delta does not want to enter any bidding war with Lufthansa, the newspaper explained. In a letter to be sent later this week to its consortium partners Ferrovie dello Stato (FS) and Atlantia, Delta is expected to say it will not raise its offer to invest EUR100 million (USD112 million). Although it has previously said it could raise its investment to EUR120 million (USD134 million), this is smaller than the sum reportedly suggested by Lufthansa in a letter written last week to Italy’s Ministry of Economic Development.
With 17 days now left until the November 21 deadline for the delivery of the binding offer, the situation remains confused, Il Corriere reported. There are now three relaunch drafts on the table for Alitalia, which currently has a fleet size of 116 aircraft (including fifteen E170s and five E190s operated by Alitalia CityLiner), according to the ch-aviation fleets module.
The first draft, by FS and Delta, would set the fleet at 103 aircraft with 2,500 redundancies. The second, by Atlantia, proposes 97 aircraft and 2,800 redundancies. The third, by Lufthansa, suggests 75 aircraft and 5,000 to 6,000 redundancies.
Alitalia commissioners Daniele Discepolo, Enrico Laghi, and Stefano Paleari favour the first of these, the sources told the newspaper, as it would provide EUR100 million immediately while also entailing fewer employment sacrifices. Adjusted for future costs, Alitalia’s liquidity currently amounts to just EUR160 million, which will run out in December, according to the newspaper.
