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Keeping Alitalia airline afloat: 900 million euro bridge loan conversion

April 11, 2019 by Forimmediaterelease

Italy’s last council of ministers have approved a new decree law with 11 new rules presented by the Minister of Economic Development, Luigi Di Maio. Among these, at the last minute, is the regulation allowing for the conversion of part of a bridge loan – 900 million euros granted to Alitalia airline in May 2017 – into equity, and, therefore, into a share package (about 15%) of the new company that will be presented by Italia Railways (FS).

In short, the go-ahead for the Treasury to become a shareholder of the new Alitalia in a scheme is official, but all has yet to be defined. At the same time, in fact, an okay was given to the extension of another month (from March 31 to April 30) to FS for the presentation of an industrial plan to the extraordinary commissioners.

The company led by Gianfranco Battisti would have preferred a longer margin that would also cover the month of May, in order to have more time to contract the entry of the other partners.

Between the Ministry of Economy and Finance (15%), FS (30-40%), and Delta (10%), a large percentage is still uncovered which has not yet met stakeholders’ approval.

With CDP, (a loan banc) Poste (the Mail Group) and Fincantieri, which have repeatedly confirmed their lack of interest in the operation, the tracks leading to China Eastern and Atlantia (Autostrade concessionaire and reference shareholder of Aeroporti di Roma) would still be alive.

Travel News | eTurboNews

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Disney Parks: Just say no to ice… and smoking and large strollers

March 29, 2019 by Forimmediaterelease

As of May 1, 2019, no ice, no smoking, and no large strollers will be allowed at Walt Disney World, Disneyland, Disney water parks, ESPN Wide World of Sports Complex, and Downtown Disney District in California. Currently all of these locations have designated smoking areas, which will be removed “to provide a more enjoyable experience for everyone who visits,” according to Disney World’s updated FAQ. (And yes, vaping is banned, too.) Smoking will now be limited to specific areas outside park entrances and at Disney resort hotels.

The smoking ban as announced on the Disney Parks blog yesterday and is bound to elicit some strong reactions, but it’s actually one of four new rules applying to Disney park guests. The second and third rules involve strollers: Guests will no longer be allowed to bring stroller wagons (essentially luxury rides for the toddler set) and stroller size will be limited to 31″ by 52,” the intention being “to ease guest flow and reduce congestion.” The FAQ notes that “many strollers, including many double jogging strollers, fit within these guidelines.” Guests who own strollers that are too roomy will have the option of renting downsized strollers at the park.

Last, Disney parks are cracking down on ice. Yes, the frozen-water kind. Specifically, they’re taking issue with “loose and dry ice,” which guests will no longer be allowed to bring into the parks. The ice ban will “improve guest flow, ease congestion and streamline the bag-check and entry processes,” the guidelines state. Reusable ice packs are allowed and “cups of ice are available at no charge” from any park location that sells beverages.

Disney notes that guests with disabilities will still be accommodated, as their policies have not changed in that regard.

The new rules will take effect prior the opening of Disney’s Star Wars-themed attraction Galaxy’s Edge. Galaxy’s Edge opens May 31 at Disneyland and August 29 at Walt Disney World.

Travel News | eTurboNews

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