Alitalia’s Higher Loss Risks Deterring Air France Investment

“On the last day of this (three-month) period, Google responded to the CNIL. Google contests the reasoning of the CNIL and has not complied with the requests laid down in the enforcement notice,” the watchdog said in a written statement. “In this context, the Chair of the CNIL will now designate a rapporteur for the purpose of initiating a formal procedure for imposing sanctions.” In its response, Google made no mention of any challenge to CNIL’s reasoning and maintained it respects European law. Privacy policy “Our privacy policy respects European law and allows us to create simpler, more effective services. We have engaged fully with CNIL throughout this process and will continue to do so going forward,” Google spokesman Al Verney said, according to AP news agency. France’s move follows Google’s introduction last year of a new privacy policy which enables it to track user activity across its search engine, Gmail, the Google+ social networking platform and other services it owns, which include YouTube. The changes make it easier for Google to collect and process data that could be used by advertisers to target individuals with offers tailored to their specific interest, thereby increasing the company’s revenue potential. Google has defended the changes it made last year on the ground that they simplify and standardise its approach across its various services. But critics argue that the policy, which offers no ability to opt out aside from refraining from signing into Google services, gives the operator of the world’s largest search engine unprecedented ability to monitor its users. While always on the agenda, the issue of data protection took on an extra dimension when Snowden’s revelations were published in June. Under PRISM, the National Security Agency can issue directives to Internet firms demanding access to emails, online chats, pictures, files, videos and more.

(LAZ) and Mediobanca SpA (MB) as advisers to consider its options on Alitalia, Italy s Messaggero reported this week, without saying where it obtained the information. Alitalia in turn has hired Gruppo Banca Leonardo as seeks to end operating losses in 2014. While owning Alitalia would give Europes largest airline access to one of the regions biggest aviation markets and help feed trans-Atlantic routes, the need for capital comes as Air Frances domestic unit struggles to stem its own losses. The Paris-based carrier last week scrapped a target of reaching break-even at Air France as it sought to cut 2,800 more jobs. Italys Infrastructure and Transport Minister, Maurizio Lupi, met with his French counterpart yesterday to discuss the situation. He has said the government is not against Air France doubling its stake, while seeking guarantees on jobs and investments for the flagship carrier. Falling Traffic The Italian airlines passenger traffic retreated 4 percent to 10.7 million passengers in the first six months, with revenue falling to 1.62 billion euros. Net financial debt for the carrier reached 946 million euros, including 600 million euros for aircraft liabilities, it said. Alitalias board will reconvene on Oct. 3, the airline said. In July, Alitalia management, which in March promised to reach break-even in 2013, put the requirement for additional financial resources at 300 million euros this year. Air France could work with a partner, such as Etihad Airways PJSC, to raise its Alitalia stake. James Hogan, Etihads CEO, said Sept. 24 that the airline is willing to pursue additional equity investments if they add value.