Alitalia auction on the brink as Air One pulls out
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Air One has pulled out of the bidding for Alitalia  citing impossible conditions, leaving Rome's plans to auction the loss-making carrier in tatters ahead of Monday's deadline for final offers.
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Two million euros a day. That's the amount of money Alitalia, Italy's national airline, is now hemorrhaging
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MILAN : Alitalia pursued last-ditch talks with unions, its deadline for clinching a rescue plan or face bankruptcy, a day after winning a key deal with pilots.
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ROME/MILAN  - Air France-KLM  has bid 35 euro cents per share for ailing Italian airline Alitalia  while an offer from domestic carrier Air One is one euro cent per share, a source close to the talks said on Friday.
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Near-bankrupt Alitalia held crucial contract negotiations with unions representing flight attendants and ground staff Wednesday in a last-minute attempt to save the state-controlled airline from collapse.
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The Italian government is to sell a 30.1% stake in national airline Alitalia, but with a list of conditions attached.
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The Italian government said Wednesday it would decide by mid-January which of two contenders should take over Italy's ailing flag carrier Alitalia -- European giant Air France-KLM or Italy's Air One.
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ROME: Italian airline Alitalia said yesterday that its first half loss was 620 million euros ($NZ1.14 billion), a higher-than-expected result owing to one-off expenses from a broad restructuring.
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"The goal is to make the new Alitalia number four in Europe, a company that should reach financial equilibrium by 2009 and begin turning a profit in 2010."  Italy's Air One and European giant Air France-KLM on Monday unveiled details of their rival bids for Alitalia, with both proposing a major overhaul of the near-bankrupt Italian flagship's ageing fleet. via The Tocqueville Connection
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Air France-KLM appeared best placed to buy Alitalia, ahead of Italian company Air One, as Alitalia's board prepared to meet on Friday on which rescue plan to recommend to the government.
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Alitalia was last night locked in talks with its trade unions over plans to slash thousands of jobs as part of the cash-trapped airline&#39;s last-ditch rescue package.
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Italy's Volare is expected to be declared insolvent, as it becomes the latest casualty of budget airline competition.
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ROME : The Italian airline Alitalia warned that it was headed for bankruptcy within a month, as the government appealed to unions and the company management to strike a deal to save the struggling carrier.
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The Italian governmentâs attempt to privatize the airline Alitalia collapsed after the only remaining bidder pulled out of the auction. The Italian treasury said it halted its attempt to sell its 49.9 percent stake in the airline after a buyout firm, MatlinPatterson Global Advisers, dropped out. The airline called a board meeting for tomorrow to decide what to do next. MatlinPatterson, which is based in New York, was one of 11 bidders that expressed interest when the auction began seven months ago. The bidders gradually dropped out because of what they said were onerous conditions that a buyer would be required to meet.
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The number of groups bidding to buy Rome's stake in Alitalia falls to two after the withdrawal of Texas Pacific.
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With the future of Italy's flagship carrier at stake, Alitalia began crucial talks with unions Monday to unveil a rescue plan &#151; including expected layoffs &#151; aimed at averting collapse.
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Italian airline Alitalia said Thursday that it would postpone until next Tuesday its decision on which buyer it prefers to take over the loss-making company.