€300 million Alitalia Capital Increase Looms

Esplora il significato del termine: Alitalia’s capital call could be raised to €300 million instead of the €250 million approved by shareholders at the meeting on 25 July. The news emerged today [30 July], the last available day to negotiate a deal with Etihad. The United Arab emirates-based airline has demanded that tomorrow’s [today’s] 31 July deadline for signing should be met.
Top-level meeting
Junior minister for the Prime Minister’s Office, Graziano Delrio, met transport minister Maurizio Lupi, Alitalia’s CEO, Gabriele Del Torchio, chair Roberto Colannino and the CEO of Poste Italiane, Francesco Caio, at Palazzo Chigi on Wednesday. A Poste Italiane press release said that “the midco line was agreed” and that there was a need to invest in the new Alitalia. This is a point on which there was “complete accord with the government”.
Till October
Nevertheless, the last-minute exchanges over the Alitalia-Etihad negotiations are understood to have focused on how big the airline’s capital increase will have to be to ensure operations until October and provide cover for any legal disputes, say two well-informed sources. “The amount of the capital increase is on the table”, said one source. “Etihad’s response to the conditions set by Alitalia and the shareholders is needed to conclude”. Alitalia declined to comment. Recently, a meeting of Alitalia shareholders approved a capital increase of up to €250 million.Alitalia’s capital call could be raised to €300 million instead of the €250 million approved by shareholders at the meeting on 25 July. The news emerged today [30 July], the last available day to negotiate a deal with Etihad. The United Arab emirates-based airline has demanded that tomorrow’s [today’s] 31 July deadline for signing should be met.

Top-level meeting
Junior minister for the Prime Minister’s Office, Graziano Delrio, met transport minister Maurizio Lupi, Alitalia’s CEO, Gabriele Del Torchio, chair Roberto Colannino and the CEO of Poste Italiane, Francesco Caio, at Palazzo Chigi on Wednesday. A Poste Italiane press release said that “the midco line was agreed” and that there was a need to invest in the new Alitalia. This is a point on which there was “complete accord with the government”.

Till October
Nevertheless, the last-minute exchanges over the Alitalia-Etihad negotiations are understood to have focused on how big the airline’s capital increase will have to be to ensure operations until October and provide cover for any legal disputes, say two well-informed sources. “The amount of the capital increase is on the table”, said one source. “Etihad’s response to the conditions set by Alitalia and the shareholders is needed to conclude”. Alitalia declined to comment. Recently, a meeting of Alitalia shareholders approved a capital increase of up to €250 million.

http://www.corriere.it/english/14_luglio_31/300-million-alitalia-capital-increase-looms-282fe094-188f-11e4-a9c7-0cafd9bb784c.shtml

Etihad CEO says deal will help to make Alitalia more secure

ANSA) - Rome, August 8 - After months of intense negotiations, Friday's deal that will see Etihad Airways take a 49% stake in money-losing Alitalia will help to make the Italian carrier more secure, said Etihad Chief Executive Officer James Hogan. Abu Dhabi-based Etihad will invest an estimated 560 million euros in struggling Alitalia in a deal that is expected to keep the Italian carrier alive while providing Etihad with greater access to lucrative routes in Europe.
Hogan also pledged to invest as much as 1.758 billion euros in restructuring the Italian carrier over the coming years, adding he expects Alitalia should be profitable by 2017.
"Our entry into Alitalia is to be partners," Hogan said after the pact was formally signed Friday by chief executive officers of the two airlines. "There will be a secure future," added Hogan.
"We will work together to make something that people can be proud of". The deal was inked followed the 11th-hour elimination of final stumbling blocks in the aviation tie-up including a labour offer that led the only major trade union opposed to the deal to drop its opposition.
Then, Alitalia shareholders approved a 300-million euro capital increase essential to smooth the transition until the tie-up is fully implemented.
The deal is an "excellent outcome," said Gabriele Del Torchio, Alitalia's chief executive officer. Transport Minister Maurizio Lupi has said the deal with Etihad was essential to keep Alitalia alive.
Friday, he sounded triumphant. "We did it, we have believed for eight months in this deal, in the face of those who did not believe it," said Lupi. Regulatory hurdles still lie ahead.
The deal must now be approved by European regulators who will be checking closely for possible State aid, which has been alleged in the past by air industry competitors.
The large stake to be taken by Etihad had triggered concerns with the European Commission, which warned Italian authorities to ensure the United Arab Emirates-owned carrier does not gain a majority holding in Alitalia.
EC rules require that majority ownership of European airlines remain in European hands, and the Italian government has reassured the EC that those rules were being obeyed.
Hogan said he had high hopes for Alitalia's future.
"To me, the sexiest airline in Europe should be Alitalia".
http://www.ansa.it/english/news/general_news/2014/08/08/etihad-ceo-says-deal-will-help-alitalia_ac19fc41-cd51-48da-adf4-3f7ef3b981ab.html

Not wishing to anger nobody this Saturday morning - particularly in Sechelles Seychelles - Mr Christopher Gill many statements and Blogs of concern about the Seychelles Tourist industry and Economy.


We have tried to explain why Ethiad, Qatar and Emirate landed in that Sechelles Seychelles. One or two of the High personalities in the Gulf Region their concern.

Mr Roullion comment about our children this morning and we many adults we have forgotten what our parents and grand parents taught us/passed on to us - this include those High personalities of the Gulf Region.

How many recall the situation with the Italian Airline before the global meltdown - we decided for Friend sake to advertise their Airline on our Seychelles community portal because of their situation then and we bluntly put some links to their Masonic/Illuminati and other Old Seychelles workings - the mechanism build in that SIROP program. We have been doing this for free.

Now that the situation have quasi stabilize will say this to those High parties of the Gulf Region - please not what we have stated about our parents and grand parents - if you refuse and fail to listen we will remove that Alitalia advert form our Seychelles EU connection portal and just watch the counter reaction.

To you Minister/Mr Alan St Ange, just as we took a small bench - the edges are rounded/smooth and would seat at our grand parents lap ask that you take the same small bench - first sanded properly, preferable polish, not them modern brush varnish/polish "with Tempon" as they say in French tradition a base of oil first then your Varnish/French Polish and "the fine dead sand paper" before the finish - made out of Takamaka or Bois noir- seat at the lap of former president FA Rene and listen, ask him about our Italian connections.

Etihad Airways Completes Deal to Buy 49% of Alitalia

http://www.nytimes.com/2014/08/09/business/international/etihad-airways-completes-deal-to-buy-49-of-alitalia.html?_r=0