Highways – Stop to the investment, if not for maintenance

Sounds like a declaration of war on the communiqué issued at the end of the extraordinary meeting today of the board of directors of Atlantia, the holding company that controls Autostrade per l’italia. The council acknowledged that “have not received any response to the formal proposal sent from the Aspi to the ministry of Infrastructure on march 5, in order to find a common solution in relation to the proceedings in question in the course now for almost two years,” and of the “situation of uncertainty which continues, unfortunately, to persist”, despite the conclusion of the analysis of the dossier to be part of the executive, pointing out that “this context has resulted and continues to result in serious damage to the entire group”, decided to use the resources allocated to the subsidiary to ensure only the maintenance and the investments for the security of the network, deferring instead to the further investments that need financial allocations. The council has also given a mandate to legal counsel to evaluate all the initiatives necessary for the protection of the company and of the group, having regard to the serious damage incurred.

The question of the loan. In the background of this decision is that there is, in addition to the impasse in the negotiations with the government for a solution to the revocation of the grant started after the collapse of the Bridge Morandi, the question of the granting of the loan granted to the companies hobbled by the pandemic on the part of some lenders with a state guarantee of Sace, provided for by the decree to Relaunch and required, as already by the FCA, also by Aspi, on which a representative of the government has expressed recently a negative opinion. Statement, supports the Atlantia, “based on the evaluation and criteria of the nature of largely discretionary and subjective to who is making an important contribution to the infrastructural development of the Country, through a plan of investment of 14.5 billion euros, by the relevant effects on the direct and indirect employment”. The press release of the company stresses how, during the period of the lockdown, the traffic on the network managed to have declined consistently, with peaks of 80%, which involves losses of revenue estimated for the year 2020, in more than a billion euros. This leads the company, which has a population of 31 thousand employees and 13,500 of which in Italy), to consider the action legal defense of their own interests, while “continuing to trust in a quick and positive solution to the affair of Aspi”.

Source: Quattroruote.en – Edited by Anthon K.