Business continuity, maintenance of jobs and routes. Cin Tirrenia, a shipping company, plays the concordat card in continuity. On Monday evening, before the deadline, the presentation to the Milan court of a request for continuity.
“The plan – writes the company in a note – ensures the best conditions for the relaunch of the company, the maintenance of services to customers, the safeguarding of direct and related employment levels in a sector, the maritime one, which is one of the most affected by the Covid-19 crisis, overcome by the company thanks to a solid and growing business ».
The company plan
While providing for the sale of some assets, the plan leaves as a fixed point that of business continuity, the maintenance of jobs and routes “also not providing for any type of public contribution from conventions but always operating in a free market regime”. “All this – writes the company – also in consideration of the positive results recorded in the last year and the current trend well above expectations”.
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Not only that: “Cin SpA thanks 95 per cent of the suppliers who, trusting them, had signed agreements with the Company and also with Europa Investimenti for their support”. As for the proposed recovery plan, “the assumption is based on a rigorous action plan put in place by management in the last year, which envisaged a series of measures to contain costs, increase market shares and revenues and the divestment of some non-core routes for the company and thus created the conditions for the presentation to creditors of a solid and sustainable plan ».
The routes
From today until the end of the year, as clarified by the shipping company, 35 thousand races have been scheduled. There is the part linked to the continuity routes, assigned to the company until May 30 (with possible extension to June 30) which concern the connections with the Tremiti, then Cagliari-Naples and Cagliari-Palermo and Civitavecchia – Arbatax / Cagliari.
The trade unions
“We hope that Cin Tirrenia’s request to be able to operate continuously, thus avoiding bankruptcy, will be accepted – says Arnaldo Boeddu, general secretary of Filt Sardegna -. At stake is the future of over six thousand workers and their families. And then the guarantee of the connections to and from Sardinia as well as for all the creditors of the Cin Tirrenia group, which in recent years have provided the shipping company with goods and services, the possibility of recovering 80% of their credit ». However, there is expectation from the trade unionist because “it is necessary to know in detail which assets the company intends to deprive itself of”.