Has Alitalia picked the right saviour?

摘要

The prolonged and inept attempt to sell the Italian state's remaining 49.9% stake in Alitalia finally appears to be reaching a conclusion, with preferred bidder Air France/KLM set to complete the deal imminently. But although most analysts believe the Franco-Dutch group is the best acquirer of an airline that is losing at least €1 m a day, has the ailing Italian flag carrier really picked the best white knight? The need for Alitalia to be rescued is obvious. Today the airline employs 11,000 and its fleet of 148 aircraft carried 24.6m passengers in 2007, but despite this scale and the prestige of being a flag carrier, the airline has racked up more than €3bn of net losses since 2000 and last made an operating profit back in 1998 (see charts, page 12).