03 August 2008

If Alitalia's financing sounds creative - lets look back

Perhaps one of the most dramatic bankruptcies in history was the Swissair - then known as the SAIR group which brought down two of Europe's most storied carriers - Swissair and Sabena (my sentimental favorite).

As we look at the very funky way that the Italian government plans to 'rescue" Alitalia lets look back at what happened.

For a good history narrative go here:


But just for fun fill in the blanks:

(BLANK BANK) chairman (XXX) said: "This drastic restructuring was the only alternative to secure the future of the (BLANK COUNTRY) aviation business. It is important for the (BLANK COUNTRY) public and for our economy and financial centre that a national flag carrier should provide services out of (BLANK COUNTRY)."

Lets see what happens in Italy and Greece. I suspect that we may see other countries and definitely different airlines using the same logic.



No comments: