Because despite the uncertainty, I do not cancel my American Express Alitalia
I have been an American Express Alitalia credit card holder for at least a decade, in the process of which I have seen pass [...]

I have been an American Express Alitalia cardholder for at least a decade, in the meantime I have seen the stick pass from the state to the brave captains, then I cheered (but only briefly) the arrival of Etihad, and now I am at the window to see what will happen to ITA.
In this article:
In all these years I never thought of canceling my two Alitalia cards: the Green and the Platinum.
Why do I have both cards?
The answer is simple for the benefits. The Green card is the one that gives me, every time I take out a prize card, the 20% of miles spent. This benefit for those who want to travel AZ is invaluable and worth much more than the annual fee.
The Platinum Card instead helps me maintain my Winged Arrow status, grants me access to AZ lounges even if I lose status, and a bonus when I buy Alitalia tickets.
I admit, I happened to think about the possibility of canceling the AZ Platinum card from American Express, being the one with the highest annual fee (700€), but the special offers thought up by Amex in these pandemic months convinced me to keep it despite the uncertain situation related to both Covid and the company's crisis.
The Winged Arrow benefit
I believe that this status of the Alitalia loyalty program has a value far in excess of the card's annual fee. In the "world before" I was making no less than 30 flights a year with the company, and although some benefits overlap with the personal Platinum card, the benefit of the Alitalia card is solid.
Maintaining Winged Arrow status requires 30k qualifying miles instead of 50k, and that is no small discount. In fact, it is the benefits reserved for status that increase the value of the card. The Skyteam Elite allows you to have these benefits even when flying with partner airlines, allowing you to use the KLM lounge or the fast track of Vietnam Airlines
The companion ticket
True it has limitations, but we are still talking about a FREE ticket that you get without effort and without doing anything more than what I would do. Both of my AZ Amex have the ability to generate the companion ticket and with a proper use of charges on cards I almost always managed to get two free tickets a year, managing to give away experiences to friends and family without spending anything (or almost anything). Each year (in the former world) these two tickets were worth more than 4,000€, compared to 800€ in dues expenses.
Loyalty is (almost) always rewarded
Here we come to today's situation: no flying and no knowledge of AZ's future. I currently have 3 companion tickets expired, Amex has informed me that if needed, a phone call will suffice to get the new code. What I hope is that whatever happens in Alitalia, Millemiglia customers will be treated with an eye to it. If, for example, you Would abandon Skyteam for a different alliance, I hope that I will not lose the points and find myself with a scrambled award chart. The idea that Amex will also be on my side in this negotiation will hopefully serve to not dissipate the approximately 500k Millemiles in my and my wife's account.
In conclusion
The retention offers and promos that have been going on for the past 12 months have reset the fee and made me money, so right now I see no reason to cancel the cards. Of course, if then in house Alitalia things were to fall apart, Is a different thing.