🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Alitalia's state-owned successor will only start flying in September - report

Published 05/22/2021, 08:05 AM
Updated 05/22/2021, 08:10 AM
© Reuters. FILE PHOTO: Alitalia planes are seen on the tarmac at Fiumicino International Airport as talks between Italy and the European Commission over the revamp of Alitalia are due to enter a key phase, in Rome, Italy, April 15, 2021. REUTERS/Remo Casilli

MILAN (Reuters) - The state-owned Italian airline that will replace bankrupt Alitalia will only start flying in September - missing the peak summer holiday season, daily Corriere della Sera reported on Saturday, citing government sources.

Italia Trasporto Aereo (ITA) was initially expected to launch flights in April, but its chief executive said last month that services would begin in July because talks with the European Commission over state aid had reached a stalemate.

CEO Fabio Lazzerini said he wanted flights to start in time for the busy summer season as low-cost rivals including Ireland's Ryanair expanded their services.

But Saturday's Corriere della Sera said the planned start date had now been pushed forward to September because of a lack of progress in the talks between Rome and Brussels.

ITA could, however, reach a deal with Alitalia that would allow it to start selling tickets for the old carrier while it waits for the EU go-ahead to buy the rest of the Alitalia's assets, the newspaper said.

No one at ITA could immediately be reached to comment.

© Reuters. FILE PHOTO: Alitalia planes are seen on the tarmac at Fiumicino International Airport as talks between Italy and the European Commission over the revamp of Alitalia are due to enter a key phase, in Rome, Italy, April 15, 2021. REUTERS/Remo Casilli

Industry Minister Giancarlo Giorgetti, who is currently responsible for Alitalia's management, is due to meet EU Competition Head Margrethe Vestager in Brussels on Wednesday.

The fate of Alitalia, which employees 11,000 people in Italy, has been a political headache since May 2017, when the carrier was put under emergency administration.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.