Alitalia took over the passenger transport activity from Wind Jet as per an agreement reached on 13-Apr-2012 following approval from the carrier's board, as reported by local media sources including AGI, World Aeronautical Press Agency, Avionews and Il Messaggero. With the transaction, previously announced in Jan-2012, Alitalia Group "aims at gathering the specific know-how developed by Wind Jet in the low-cost flights sector, thus completing and enriching its range of products and competences. This will allow Alitalia to further diversify its offer, similarly to what has been done with the Air One project, namely to have a wider range of Italian, quality low-cost flights. The operation - which is consistent with the ones recently announced by other European airlines and aims at strengthening our activity in the low cost flight segment - is subject to the success of a series of regulation and market conditions set out in the contract," the carrier said. WindJet reportedly has debts of around EUR100 million. A similar agreement with Blue Panorama has not been approved.
Integration of Wind Jet operations with Alitalia receives board approval
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Alitalia may need to seek (another) last chance as funds shrink
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Only eight months after requesting an emergency loan from shareholders, its Board will seek a EUR100 million capital increase at a shareholders’ meeting on 14-Oct-2013. 25% owner Air France-KLM has signalled opposition to this plan and this sum may not even be sufficient beyond the short term.
Alitalia’s 2013-2016 industrial plan, announced only in Jul-2013, aims for breakeven at the net profit level in 2015. This will not be worth the paper it’s written on if Alitalia does not manage to raise survival funds quickly. The Italian government, although not a shareholder, is reported to be talking to Italian banks about additional loan finance. If Alitalia’s short term needs can be met, this could give vital breathing space for a long term solution to be found, possibly involving new shareholders. But more "last chances" cannot be anticipated.