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Alitalia board approved new Two-Year Plan for 2002-2003

The Alitalia<.> Board of Directors approved the document relating to the Two-Year Plan 2002-2003…

The Alitalia  Board of Directors approved the document relating to the Two-Year Plan 2002-2003  which outlines the new market scenario and the consequent effects on the Group`s prospects which might come about over the next two years, as a result of the September 11 events, in the hope that the present air transport crisis will be over by late 2003.

In spite of the forecast for the coming two years and the predicted sharp drop in demand (of the order of 17% on average in 2002 and of 4% in 2003, compared to 2001 levels prior to the September 11 crisis), the aim of the measures and the actions set out in the document is to reach par for the Group by the end of 2003 (net profit of 25 million euros), within a sustainable financial framework in the medium-term, of a nature that would ensure that the Company retains its potential as a global carrier.

It should be emphasised that the achievement of these objectives presupposes the implementation of certain steps (compatible with European regulations) that are still under discussion at government level, without which it will be impossible to balance the 2003 budget, unless a total change were to take place in the present strategic positioning of the Company – a change of such a nature that might prevent the Company from returning to its path of development, and might lower its potential as a global carrier.

In particular, reference is made to:

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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