Event Publicly Available Information:
ALITALIA - SOCIETÀ AEREA ITALIANA S.p.A.
in extraordinary administration n~ii1 I Allitalia f~
For immediate release
Fiumicino, 31 May 2017
Press Release - Public disclosure of inside information pursuant to Article 17
MAR
ln relation to the issuance by Alitalia - Società Aerea Italiana S.p.A. (hereinafter,
\"Alitalia\" or the \"Issuer\") of:
(i) \"Euro 375,000,000 5.20 per cent. Notes due 30 July 2020\", ISIN
XS1263964576, listed on the \"MSM\" market of the Irish Stock Exchange;
(ii) \"USD 131,922,000 6.31% Notes due 28 September 2020\", ISIN
IT0005137002, listed on the \"Third Market\" (MTF) of Wiener Börse AG
(Vienna Stock Exchange);
(iii) \"USD 99,500,000 6.31% Notes due 1 June 2021\", ISIN IT0005158099, listed
on the \"Third Market\" (MTF) of Wiener Börse AG (Vienna Stock Exchange);
(hereinafter, the notes under (i) above, the \"Euro Denominated Notes\", and the notes
under (ii) and (iii) above, the \"USD Denominated Notes\")
Subject: Admission to Extraordinary Administration Procedure of the Issuer and
occurrence of an Event of Default in relation to the Euro Denominated Notes
and of a Relevant Event in relation to the USD Denominated Notes
We hereby give notice that, by means of Decree of the Italian Minister of the Economic
Development dated 2 May 2017 (the \"Decree\"), Alitalia has been admitted to the extraordinary
administration procedure provided for large insolvent companies, pursuant to article 2,
paragraph 2, of the Italian law decree No. 347 of 23 December 2003 (converted with
amendments into law No. 39 of 18 February 2004, as subsequently amended). Pursuant to
LEGAL HEAD OFFICE
Via A.Nassetti
ALFA Building
00054 Fiumicino (RM)
Italia
Tel. [+39] 06 6563 1
Share Capital€ 103,105,126.99
fully paid-up with registered office
in Fiumicino (RM)
Tax ID, Vat Code and registration number
in the Companies Register
of Rome 13029381004,
Rome Economic and
Administrative Register n.1418603
Al
the Decree, Messrs. Luigi Gubitosi, Enrico Laghi and Stefano Paleari have been appointed as
the extraordinary commissioners of the procedure.
By means of decision No. 17/2017 dated 11 May 2017, the Court of Civitavecchia declared the
insolvency of Alitalia.
Copy of the Decree and of the decision of the Court of Civitavecchia mentioned above are
available on the website http://corporate.alitalia.it
As a consequence of the above, we hereby also give notice of the occurrence of:
(i) a \"Relevant Event\" pursuant to the Terms and Conditions in relation to the Notes \"USO
131,922,000 6.31% Notes due 28 September 2020\";
(ii) a \"Relevant Event\" pursuant to the Terms and Conditions in relation to the Notes \"USO
99,500,000 6.31% Notes due 1 June 2021\"; and
(iii) an \"Event of Default\" pursuant to the Terms and Conditions in relation to the Notes
\"Euro 375,000,000 5.20 per cent. Notes due 30 July 2020\".
Pursuant to Articles 55 of the Italian Bankruptcy law (which is applicable to extraordinary
administration pursuant to Article 169 of the Italian Bankruptcy law, Article 18 of the Italian
Legislative Decree 270/1999 and Article 4 of the Italian Legislative Decree No. 347 of 23
December 2003) following admission to the procedure, Alitalia\'s monetary payment obligations
are considered expired and due at the date of the Decree.
Alitalia and Etihad Investment Holding Company LLC (\"Etihad\") entered into a debt assumption
agreement (accollo) relating to the payment obligations of Alitalia under the USD Denominated
Notes, having effects only between the parties (accollo interno) and without release of Alitalia
of any payment obligations arising out of the USD Denominated Notes.
Under such agreement, Etihad does not assume any payment obligations vis-à-vis the holders
of the USD Denominated Notes.
The obligations of Alitalia towards the holders of the Notes will be treated in accordance with
the applicable Italian Bankruptcy law provisions.
***
ÂI
Communications
Name: Mr. Matteo Mancinelli
Position: General Counsel
Phone number: +39 06 6563 5125
Email address: Matteo.Mancinelli@alitalia.com
Alitalia - Società Aerea Italiana S.p.A. in Amministrazione Straordinaria
Pal. Alfa
Via Alberto Nassetti
00054 Fiumicino (Rome)
Website: www.alitalia.com