On last Friday, Aristide Police, Alitalia’s chairman, casually remarked that the plan for the future of Alitalia is not constructed around the airline claiming bankruptcy or on the placement of debts separated into another entity. On the contrary, in a move planned to help the troubled carrier, Intesa Sanpaolo has been exploring a new strategy to rescue the airline, which eventually failed at finding a buyer when the company was up for sale a year and a half ago by the government. According to the newspapers, Intesa Sanpaolo’s plan may prompt a change in one of Italy’s bankruptcy laws or placing the airline’s debts into another separate “bad company” in order to lead investments into the daily operational activities. Alero Matteoli, however, the Transport Minister, says that it isn’t a ripe enough time yet to begin discussing changes to laws of financial failure, not even prior to Intesa Sanpaolo introducing their plan.

Mr. Police told journalists during the conference that he stands by the Transport Minister’s statement, who talked about a solution planned around keeping the business going. On Wednesday, the Industry Minister, Claudio Scajola, said that the financial law would be changed to address the crisis conditions of some large companies, but Alero Matteoli said that the government wants to wait until the work of Intesa Sangaolo is submitted and completed. It is expected that Intesa Sanpaolo will complete the plan during the early part of August for Alitalia’s benefit, as Alitalia is losing over 1 million euros every day. The airline’s shares, more notably, have been discontinued from trading for nearly a month.

Learn more about Alitalia at: www.alitalia.com