Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
From the 13 January 2009, Alitalia is starting a new phase as a private company. The new Alitalia has 12,600 employees, down from the previous 21,500 employees of the combined 'old' Alitalia and Air One, the smaller Italian airline, which merged with Alitalia. The new operator has 148 aircrafts compared with 173 in the old fleet.
In December, Alitalia's new owners, the Italian investor group Compagnia Aerea Italiana (CAI), acquired the 'old' Alitalia, in a EUR 1,052bn deal, and merged with Air One. CAI acquired the more profitable parts of the 'old' Alitalia, while the Italian Ministry of Treasury kept all the Alitalia's debts and its least profitable parts (the so-called 'bad company').
Moreover, from the beginning of January 2009, the new Alitalia has a partnership agreement with Air France-KLM, which will invest EUR 323 million to acquire a 25% stake in the new company.
In December, after several industrial actions, the government, Alitalia and the trade unions reached two important agreements. The first, which was signed by the government and the main sectoral trade unions, envisaged the recourse to some 'social shock absorber' (ammortizzatori sociali) measures that cushion the negative social effects of 3,650 redundancies. In particular, the agreement includes recourse to the 'extraordinary' Wages Guarantee Fund for four years. After this period, redundant workers will benefit for three years of the 'mobility' programme, which will support their incomes until they reach retirement age or they eventually find a new job. During this period, the state - through the National Social Security Institute (Istituto Nazionale Previdenza Sociale, Inps) - will pay an allowance equal to 80% of the average wage lost by the workers. The other redundant workers shall be outsourced.
The second agreement, signed by CAI and the trade unions, defined the economic and normative conditions for the workers hired by the new company.
In December and January, mainly at the Fiumicino and Malpensa airports, there were several 'unofficial' strikes organised by Alitalia's workers.
Additional details on the Alitalia case are available on the European Industrial Relations Observatory (EIRO).
Eurofound (2009), Alitalia, Merger/Acquisition in Italy, factsheet number 67053, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67053.
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