Alitalia Gets Lift From Flight Attendants
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MILAN  - Alitalia airline won a thumbs up from the stock market following a weekend job-cutting deal with flight attendants seen as clearing away a threat of bankruptcy and opening up new horizons.
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The Italian government gives its backing to Air France-KLM's proposal to buy Alitalia.
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ROME: After winning union backing for job cuts, Alitalia has given formal approval to a four-year business plan aimed at saving the near-bankrupt Italian carrier from collapse.
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Alitalia SpA, Italy&#39;s largest airline, reached an agreement with pilots to increase work hours and reduce pay ahead of tomorrow&#39;s deadline set by Chief Executive Giancarlo Cimoli, union officials said.
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Alitalia SpA, Italy&#39;s largest airline, plans to cut a total of 3,689 jobs after winning concessions from flight attendants&#39; unions on cost-cutting targets aimed at saving the carrier from running out of money, union officials said.
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Alitalia management and unions representing cabin crews agreed to parts of a deal that, if finalised, could allow approval of an overall rescue plan, union sources said.
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Shares in Alitalia gained over 5.0 percent Monday after the state-controlled airline clinched a final union agreement over job and wage cuts, clearing a key obstacle to its turnaround plan.
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Shares in ailing Italian national  carrier Alitalia surge on speculation that Air France is preparing to bid for the airline.
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Alitalia said Thursday it has reached an agreement with unions representing its ground crew staff to cut 2,500 jobs and freeze pay increases, moving a step closer to approving a crucial restructuring plan.
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Italian airline Alitalia has agreed a deal with its ground staff, paving the way for some 2,500 job cuts and a reduction in staff benefits.
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Labor and management at Italian state airline Alitalia have reached an agreement in principle to split the carrier into two companies, one for flight services and the other for ground operations, union sources said.
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Management at the Italian national airline Alitalia put forward a rescue plan to trade unions that foresees slashing 5,000 jobs to keep the struggling carrier aloft, Italian media reported.
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EU transport and energy commissioner Loyola de Palacio hailed the accord reached between Alitalia management and staff on a major restructuring plan aimed at keeping the struggling airline in the air.
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Alitalia&#39;s shares soared yesterday as hopes increased that the struggling Italian airline and labour unions might clinch a deal on a relaunch plan aimed at saving the company before a deadline today.
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ROME : The management of Alitalia was due to present a rescue plan to trades unions which hold the key to whether the state-controlled airline receives a government-guaranteed loan to avoid bankruptcy.
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Alitalia&#39;s board approved a four-year rescue plan Monday that was needed to unlock a 400 million-euro emergency loan and prevent bankruptcy, after unions agreed to thousands of job cuts.
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ROME : Alitalia bosses and union and government officials forged a deal to save the troubled Italian flag carrier after thrashing out the details of redundancy payments for 3,700 workers who will lose their jobs in a restructuring plan.