Air Transport World

Alitalia: alitalia.it.(Europe)(financial results Alitalia Linee Aeree Italiane S.p.A.)

The spinoff of Alitalia Servizi, the carrier's ground service company, in November and partial privatization of the airline, carried out through a [euro]1 billion recapitalization in December that saw the Italian state's holding reduced to 49.9%, were key events on Alitalia's bumpy road to recovery and full privatization.

Alitalia Servizi, which combines former maintenance, ground handling, shared service and IT units, is now 51% controlled by Fintecna and has been removed from Alitalia's financial results. According to the airline, on a pro forma basis the spinoff resulted in an 18% decrease versus previous internal costs. It took 9,479 workers off the books and a further 1,306 jobs were eliminated last year so that at year end the carrier had 11,200 workers, down from 21,959 two years ago. …

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