Italian civil aviation authority ENAC President Vito Riggio indicated yesterday that Alitalia is short on time, telling reporters, "Fantozzi must present to ENAC a credible plan [by Sept. 25] to avoid the suspension or the revocation of the license to fly." Given AZ's tenuous financial position, ENAC is concerned about the airline's ability to buy needed spare parts and perform other basic safety procedures. Fantozzi said a "suspension" would allow for a possible restart while a "revocation" would be "more damaging" to AZ's future prospects.

Prime Minister Silvio Berlusconi reportedly is attempting to convince investment group CAI, which last week withdrew its €1 billion ($1.4 billion) rescue offer after six of the carrier's nine labor groups refused to agree to concessions (ATWOnline, Sept. 19), to return to negotiations with unions.

AZ's assets already are being sized up by at least one company. AMA Asset Management Advisor, a Swiss investment company, said yesterday that is interested in buying and/or leasing a combined 30 MD-82s and ATR-72s owned by the airline to operate flights from Italy to Eastern Europe.

Source ATW