Italy plans to re-nationalise bankrupt Alitalia as part of economic rescue plan

Italian government on March 16 outlined a plan to re-nationalise its former national carrier Alitalia that h gone bankrupt. According to reports, rescue plan could cost Italian taxpayers a whopping $670 million. re-nationalisation of Alitalia will be part of an emergency ecomic rescue plan for coronavirus pandemic. 

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government of Italy was earlier planning to sell national carrier but plan h to be abandon as coronavirus outbreak caused havoc in Europe. As per reports, government is w planning to take full control of ailing airline's aviation and land operations. Rome h earlier planned to sell flag-carrying aircraft by May 31 but it w seems that it has some or schemes in its kitty. 

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Experts believe that Alitalia suffered a heavy loss because of fierce competition from budget airlines like EasyJet and Ryanair that operate in region. or major reason behind its fallout was that it employed too many staff despite having a low number of passengers compared to or airlines. 

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Coronavirus outbreak

Italy is worst affected country outside mainland China where more than 2,100 people have lost ir lives. Italy is only country besides China to report a four-digit death toll from coronavirus. So far country has logged in 2,158 deaths from disease outbreak. Currently, re are 23,073 active cases in Italy, of which 1,851 patients remain under critical condition. Italy has successfully treated 2,749 patients since virus first escalated in January 2020. 

COVID-19 has claimed more than 7,100 lives across world and has infected over 1,82,000 people globally since it first broke out in December 2019. China is most affected country in world as experts believe that virus originated from a seafood market in Wuhan city, epicentre of disease, where animals were reportedly being tred illegally. 

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