Chapter 1609 For the Husband

European airlines are taking a more integrated approach to maintaining their market share on transatlantic routes, with more aggressive pricing models than U.S. airlines on Atlantic routes.

Can't tell the good from the bad, only pros and cons to each.

Taking British Airways as an example, through the establishment of the low-cost sub-brand Level, it provides passengers with two levels of fares, super economy class and economy class, on transatlantic routes.

Level is currently based in Barcelona and operates flights to Boston, Buenos Aires, Los Angeles and Auckland using the wide-body A330.

British Airways itself has retained its London-Las Vegas flight and will launch a London-Toronto flight, expanding its market share on the transatlantic route it operates at Gatwick Airport, competing with WestJet on the same route. , Norwegian Air launched dislocation competition.

This model is a bit similar to Tian Ji’s horse racing in country Z, using the service advantages of traditional airlines to deal with the low fares of low-cost airlines, and then using its own low-cost airlines to fight price wars with other traditional airlines.

From a certain point of view, such a model is smarter than blindly adopting price competition, but there are also disadvantages, that is, neither end can fall well.

With the full support of Delta Air Lines, Norwegian Air can provide services that are not weaker than those of traditional airlines in the competition between Gatwick Airport and British Airways. For passengers, as long as the seats on the plane are spacious enough, and a good Not too bad airline food is enough and they don't ask for more.

Of course, the first-class service is definitely not bad. With such a comparison, and with cheaper air tickets, passengers will naturally know who to go to buy air tickets.

As for route selection, low-cost airlines enter the market by providing flights to second-tier cities, which can not only expand the route network, but also reduce airport costs.

At the same time, choosing to open European routes in unaired U.S. cities avoids direct competition with other airlines with rich route networks.

In December, Norwegian Air will officially open routes from Barcelona to Newark, New York, Bergen to Providence, and London Gatwick to Denver. Once these three routes are launched, they will greatly divert the traffic from the United States. The northeast has a dense passenger flow to and from Europe, and Denver, as a plateau city in the Midwest of the United States, has relatively developed commerce and a large population, which is enough to guarantee the source of tourists once a week.

However, it is reported that British Airways is also investigating the route from London Heathrow to Nashville, indicating that traditional airlines also have a tendency to extend to the secondary market. The news has not been verified, but since there are rumors, it proves that the route has Most likely open.

In any case, the competition on the Atlantic route will only intensify, and every airline company is making 120% efforts for even 1% of the share.

It seems that Alitalia is by no means useless, at least it can help Delta continue to widen the gap with the latter.

Thinking of this, Yang Cheng's refusal began to waver.

Beatrice keenly grasped the moment of shaking, "How about it? Do you want to think about it?"

Yang Cheng laughed, "I don't understand, why are you working so hard, is your father going to hand over the Borromeo family to you?"

"I'm also part of the family~" Beatrice scolded.

But Yang Cheng didn't believe this reason, "Come on, this joke is not funny at all~"

Beatrice knew that if she didn't tell the truth, it might be difficult to gain Yang Cheng's trust, so she said, "Well, I admit that I have selfish intentions. Pierre's investment company owns some shares of Alitalia, not many , about 3%, worth close to 50 million euros, which is equivalent to more than half of the assets of his investment company."

Yang Cheng suddenly realized that this is the root cause, anything for the family is nonsense, and her own interests are the real thing.

"Let me think about it~" Yang Cheng really needs to think carefully, the situation of Alitalia and Norwegian is different.

As the same flag carrier, Norwegian Air has a cleaner management and ownership structure.

Behind Alitalia is a complex interest dispute. The Italian ZF, Italian National Railways, Etihad Airways, Air France-KLM, and many small investors and retail investors, even if the equity issue is resolved, it still involves the corruption of the management. , and the arrogant trade unions, they can't drive everyone away, can they?

At that time, let alone whether the ZF will agree or not, the Italian people will spit on Yang Cheng and scold Yang Cheng to death.

Ugh. . . It's difficult, this is Yang Cheng's innermost thoughts.

Beatrice really gave him a big problem—whether he should be the white knight or not!

In his opinion, this problem is much more difficult than fully cooperating with the Borromeo family~

When he was worried, he unconsciously poured wine into his stomach. After a while, most of the bottle of wine entered his stomach. Even though the red wine was not high in alcohol, plus the previous amount, Yang Cheng's head began to feel dizzy at this moment Of course, it is far from being drunk, and the thinking is still very clear, but the hands, feet and body are slightly fluttering.

Beatrice wasn't much better either, she wasn't very talented, and she didn't have the capacity to drink like Yang Cheng, her pretty face turned pink after drinking, but she was extra energetic and didn't want to stop at all.

It took a long time, and he opened another bottle of wine. He didn't know if it was troublesome or it was hot, so he took off his coat and put on a tight half-sleeved T-shirt, showing his hot body at a glance.

Yang Cheng took a sip of wine, suppressed the burning in his throat, and continued to ask, "You must be clear about Alitalia's debt situation, right? Also, what was the final solution to the last bankruptcy?"

Beatrice didn't notice the faint green light in Yang Cheng's eyes at all. She drank a sip of wine and recalled for a while, "In 2008, Alitalia declared bankruptcy due to the financial crisis, but the then Italian Prime Minister Berlusconi decided to help , Alitalia was able to escape.

At that time, the management of Alitalia and the labor union originally negotiated a plan: including laying off 1,600 employees, cutting wages by 8% and extending working hours, in exchange for shareholders’ investment of 2 billion euros, but this plan was rejected by the labor union. Large-scale layoffs, let alone extended working hours.

In the end, Mr. Berlusconi came forward and asked the bank for help to give some short-term financial support to Alitalia, which was in deep trouble at the time, including a bridge loan of 600 million euros to help it tide over the difficulties, and finally sold a large number of shares. , finally got rid of the bankruptcy crisis. "

"Is the 600 million debt paid off?" Yang Cheng keenly grasped the key figures.

Beatrice brushed her hair, with a slightly embarrassed expression, "Not yet, and as far as I know, Alitalia is losing 1 million euros every day. If there is no capital injection, the company may face a crisis before next summer. The danger of running out of money."

Yang Cheng took a breath, "1 million per day?"

At least 200 days until next summer, 1 million per day, that is 200 million euros.

"Wait, Etihad Airways bought 49% of the shares and didn't assume the corresponding debt?"

"Etihad Airways hopes to use future company profits to repay debts, but since the capital injection in 2014, Alitalia is still in a state of weak profitability, and it did not last long, and continued to lose money until now.

The current accumulated debt is as high as 900 million euros. "

Yang Cheng felt a pain in his head. If he hadn't forced him to ask, would he have to wait until he got involved in the negotiation to find out?

"How many employees does Alitalia have now?"

"Nearly 13,000~" Beatrice could only give a rough estimate.

"What about the number of planes?"

"120 aircraft ~ transported more than 20 million passengers last year." This is quite accurate.

Yang Cheng pressed his temples, "It is necessary to adjust the number of employees. You must know that Ryanair, a low-cost airline, has 300 aircraft and transported more than 100 million passengers last year, but the number of employees is only 11,000.

Alitalia's personnel structure is too bloated. If this burden is not resolved, no one can change the outcome by injecting capital. It will only prolong life. "

Beatrice actually knew the problem, but it was related to her own interests, so the standard must be lowered appropriately.

"I think you can bring your appeal to ZF representatives. In the past ten years, ZF has spent 7 billion euros to provide support for Alitalia. This is all taxpayer money, and it must not be endlessly invested.

So I guess ZF must have the idea of ​​withdrawing all of them, and it is not impossible to agree to layoffs. "

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