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02 December 2019

The unblocking of the bridge loan for Alitalia arrives. The government, reads the draft of the ad hoc decree law that should arrive on the table of the Council of Ministers tonight, confirms the loan of "400 million" to allow for the transfer of the corporate complexes belonging to Alitalia ", leveraging on resources already allocated with the fiscal decree The loan is granted with the application of interest at the six-month Euribor rate published on the business day prior to the disbursement date, increased by 1,000 basis points, and is repaid, for principal and interest, in pre deduction, with priority over any other debt of the procedure.

New transfer procedure, by 31 May 2020
The draft of the decree provides that the Government indicates a new procedure for the sale of Alitalia business complexes. The provision sets the deadline of 31 May 2020 for the completion, by extraordinary commissioners, of the "procedures necessary for the transfer of the company complexes" of Alitalia Sai and Alitalia Cityliner under extraordinary administration ".

Plan for efficiency improvement
The extraordinary commissioners of Alitalia will also be able to act with reorganization and efficiency measures. The program of the extraordinary administration procedure, reads the draft of the decree, "is integrated with a plan concerning the initiatives and interventions of reorganization and efficiency" functional to the sale of the assets.

De Micheli: decision negotiated with the EU
"The Italian government has negotiated this decision with the Commission" on Alitalia. "I understand that on the text that comes this evening there has been a statement from the Commission today. We are trying to do everything to relaunch a great Italian company ". So the Infrastructure Minister Paola De Micheli answers to those who ask her if there is not the risk that the EU Commission can request the repayment of the money paid with a new loan in favor of Alitalia. "I believe that there are all the negotiating margins for the Commission to face this dossier with the utmost peace of mind. To give a solution to the problems of the Italians and to stay within the European rules", added De Micheli, who specified that having decided to leave Brussels before the meeting was completed to attend the Council of Ministers tonight. "As you know, we are hypothesizing a solution for the coming months that will allow us to make Alitalia more competitive," he said.