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If you love Alitalia so much, Silvio, why don’t you just marry it?

September 24, 2008 by Evan Sparks

Alitalia, the feline airline with nine lives, may yet live, according to AP and Financial Times stories. (The FT lede says that the lack of a “Plan B” may keep Alitalia flying. In the real world, the lack of a Plan B means liquidation.) No one wants to buy this basket case of an airline, but Italian prime minister Silvio Berlusconi made keeping Alitalia Italian (and operating) a central item on his agenda. So, since all else seems to have failed, why doesn’t Berlusconi just buy the government stake in Alitalia himself? He’s Italy’s richest man, with a net worth of $12 billion — enough hardly to notice an investment of $600 million, which is what the last consortium was bidding.

Furthermore, aviation is an industry that attracts eccentric businessmen: Richard Branson, Donald Trump, Howard Hughes. Why not Silvio? Of course, it might be that he’s a shrewd enough businessman to recognize that Alitalia as currently constituted is a gaping money pit. Like most politicians, he’s happy to invest other people’s money in unprofitable but “patriotic” ventures. (See also: Henry Paulson, Barney Frank.)

All the same, I hereby call on Silvio Berlusconi either to pony up the cash for Alitalia or let this airline die a dignified death.

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Posted in Evan's News and Quick Takes | Tagged alitalia, business, europe | 1 Comment

One Response

  1. on September 25, 2008 at 10:06 am Cranky Flier

    Amen! Though we’re far beyond the point of a dignified death now. I think Silvio is currently personally keeping the patient’s life support plugged in, so now it would just be more of a relief than anything else.



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