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Parliamentary questions
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27 August 2018
Question for written answer E-004346-18
to the Commission
Rule 130
Ramon Tremosa i Balcells (ALDE)

 Subject:  Alitalia state aid and payment of interest on bridging loan?
 Answer in writing 

According to the various quarterly reports recently published by the special commissioners(1) (2) and the cash flow data presented to Parliament at the start of the month, the special commissioners who are currently managing Alitalia have not yet paid any interest to the state for the bridging loan, even though 16 months have elapsed since the payment of the first tranche.

In each report(3) cash flows are always set out on the final pages and none of the reports refer to the payment of any interest on the bridging loan. The most likely assumption was that a payment was to be made at least one year after the first disbursement of the loan, i.e. in mid-May 2018.

However, the April-June quarterly report only sets out (4) (5) (see table on page 115 and explanation on page 116) the following debt service payments:
EUR 11 million for financial costs and capital shares for the financing of the aircraft;
EUR 6 million for the leasing of aircraft belonging to third parties(6).

The interest rate for the bridging loan is 10%. This is equivalent to EUR 90 million a year in interest payments alone (given that the bridging loan is EUR 900 million), which is equal to EUR 7.5 million a month in interest alone.

1. Since the Commission is monitoring the Alitalia coffers and can see how much effectively remains of the EUR 900 million bridging loan, can it confirm whether interest has been paid to the state?

2. Is it not true to say that even failing to pay the interest due when it is due is tantamount to state aid?


Original language of question: IT 
Last updated: 11 September 2018Legal notice