From a distance, very few links exist between the Italian airline industry and ours. But recently, they have found themselves on the same side of the long-standing debate about the public financing of economically unviable state-owned assets. The New York Times said it best when Alitalia earlier this month submitted yet another bankruptcy filing. "When [it] went bankrupt in 2008, the government swooped in with taxpayer money and Pope Benedict - a regular rider - offered the carrier a blessing. Six years later, as Alitalia stumbled into debt yet again, the government engineered another rescue. Even a papal decree would not have been enough to save Alitalia from what threatened to be its final stand, as Europe's most troubled airline filed for bankruptcy once more, this time amid signs that the government, and the Italian people, were fed up from providing life support."
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.