Italian legacy carrier Alitalia perishes after seven decades, set to hand over to ITA

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Italian legacy carrier Alitalia perishes after seven decades, set to hand over to ITA

Alitalia Società Aerea Italiana SpA, the Fiumicino-headquartered Italian legacy carrier, had winded up its operations on Thursday after 75 turbulent years, as the bloc’s third-largest economy’s far-right opposition party, Brothers of Italy, had laid the blames on former ECB Chair PM Draghi’s Government.

Nonetheless, Alitalia, a one-off icon of Italian style and allure in the air which had long been the largest airline in Italy and a conventional selection of the Popes, Prime Donnas, premium political figures alongside elite families among others, would hand over its shorter version to Italia Trasporto Aereo (ITA).

However, Alitalia has been on the brink of collapse since 2017 when it had been handed over to state-backed administration to avert an imminent liquidation, while the state-appointed administration had injected as many as €8 billion in past three years.

However, Alitalia had managed to yield a profitable year just once in this century.

Alitalia wraps up operation after long 75 years

In tandem, according to financial terms of Alitalia’s submission to its successor ITA, the reformed carrier which would receive a €1.35 billion in fresh liquidities from the Government, would roll out operations with 52 jets alongside 2,800 employees, remarking a much-squeezed edition of Alitalia which had over 110 aircrafts alongside a workforce of 10,000.

Besides, ITA’s emergence followed a deal with the EU Commission that had said there must have to be a clear transformation and the reformed carrier had to be on the black by end of its 2021-2025 business plans. Meanwhile, as Alitalia’s demise had been whirled amid political uproars, the country’s far-right party leader, Giorgia Meloni, said, “Today we are losing another jewel, a company that has forged the history of our nation and ...

made us proud to be Italian,” which horrendously sounded a strong resettlement of centre-left politicians in the EU, though it remains to be seen whether a new wind of change which is gradually becoming visible, could weather a pandemic-associated blow to the region’s economy, said analysts.