Air Serbia CEO named in Alitalia investigation
NEWS FLASH
Air Serbia’s CEO, Duncan Naysmith, has been named as one of 21 suspects in an investigation by the public prosecutor’s office in Civitavecchia, Italy into the bankruptcy of Alitalia in 2017, during its strategic partnership with Etihad Airways. Mr Naysmith served as Alitalia’s Chief Financial Officer at the time. The Italian prosecutor found that Etihad was involved in numerous financial offences at Alitalia, including the fraudulent disclosure of business information, which ultimately exacerbated the Italian flag carrier’s financial problems. Other suspects named in the investigation include members of Alitalia’s top management at the time, members of the Board of Directors, other high-ranking company officials and consultants. The former President and CEO of Etihad Airways, James Hogan, has also been named as a suspect. Italian media noted that Etihad essentially used Alitalia as an ATM machine. Alitalia has been operating in bankruptcy protection since 2017. The airline is estimated to be losing some two million euros per day and is maintaining operations only as a result of government-backed bridging loans. Last week it announced it was discontinuing the lease for three Airbus A330 aircraft from Etihad Airways at a cost of 500.000 US dollars per month per aircraft. Duncan Naysmith initially held the post of Chief Financial and Business Transformation Officer at Air Serbia upon his arrival to the company in 2017, after which he was promoted to the CEO position in December that year following the resignation of Dane Kondić.
0 Response to "Air Serbia CEO named in Alitalia investigation"
Post a Comment