The main objective of the plan is to reduce NTV's €780m debt, which has been reviewed with creditors, including banks such as Intesa San Paulo, and shareholders such as French National Railways (SNCF). NTV financial director Mr Fabio Tomassini and financial advisors Lazard are involved in the debt restructuring with banks and shareholders may be asked to increase the company's capital.
The plan anticipates that measures to ensure fairer competition between Trenitalia's Frecce high-speed services and those of open-access operators will allow NTV's finances to recover.
At the present NTV spends €120m a year on infrastructure access fees and new legislation on major energy consumers will increase costs by €20m next year.
Despite rising traffic and revenues in 2013 and this year, NTV says it is now being forced to take action on its debt and says it needs to achieve this while continuing to provide a high-quality service to passengers.
NTV plans to extend promotion of seats in premium Club and Prima accommodation but it will reduce the number of seats in these categories to add more seats in the Smart economy section, where demand is highest.
NTV says station services including ticket sales will be improved, but there will be fewer customer hosts.
The next meeting with the trade unions has been fixed on November 7.
