#loss-making

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Alitalia is in trouble, produces a loss of half a million euros a day

Alitalia may dismiss its 2000 workers and force at least 20 aircraft to the ground to cut costs - Reuters has learned. The Italian airline 49 per cent owned by the Abu Dhabi airline Etihad would like to make it profitable again in the current loss-making company.

The cancellations mainly on local routes can be calculated with Alitalia can not compete with the cheaper low cost airlines and quick railroads.

Etihad has not yet commented on the news.

The United Arab Emirates airline has invested in Alitalia EUR 560 million in 2014. Designed through the Italian air company to break into the European air market. It is reported that by 2017 it will be profitable for the company. But to this day, Alitalia is losing half a million euros a day on average.

The management is still studying the possibilities. As part of that dismissed a portion of the 12,700 employees.

[theswitchproject]

Local SOEs are numerous (around 8 000), employ a large number of workforce (about 500 000) and are active in all sectors of the economy. Evidence demonstrates that local SOEs are in many cases characterised by inefficiencies. Around 1/3 among them are loss-making. Total transfers from the state are estimated at EUR 16.5 billion (1% of GPD) per year, not always on a clear rationale.  Inefficiencies prove linked to a multiform state participation in the economy with no clear orientation.