EU: Alitalia plan good for future
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A rescue plan aimed at saving Italian airline Alitalia is a good sign for the future of the loss-making flag carrier, the EU&#39;s top transport official has said.
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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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Alitalia's shares soared Tuesday as hopes increased that the struggling carrier and labor unions might clinch a deal on a relaunch plan aimed at saving the company before a deadline Wednesday.
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Italy is happy to sell Alitalia to anyone willing to turn the loss-making national airline around -- no matter whether the new owners are Eskimos or Chinese, an Italian minister said.
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Management at the Italian state airline Alitalia was to put forward a rescue plan to trade unions, whose members hold the key to whether the struggling carrier receives a government-guaranteed loan to avoid bankruptcy.
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The Italian government gives its backing to Air France-KLM's proposal to buy Alitalia.
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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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Air France-KLM chairman Jean-Cyril Spinetta said he had held very "useful and positive" talks here Wednesday on his company's planned takeover of Alitalia, the struggling Italian airline.
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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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Shares in Alitalia are soaring as the board of the Italian carrier prepares to approve a rescue plan that will cut jobs and slash wages in an effort to avoid collapse.
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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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The management of troubled Italian carrier Alitalia was due to unveil a rescue plan to stave off bankruptcy, which the Italian media says will involve shedding a quarter of the workforce.
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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's board of directors said Friday it had advised the Italian government to pursue an offer by Air France-KLM to rescue the near-bankrupt airline with a long-term investment of 6.5 billion euros (9.3 billion dollars).
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Roma, 16 settembre 2004 - Alitalia e cinque organizzazioni sindacali hanno raggiunto stamane Â«l&#39;accordo con il personale di terra sul progetto industriale 2005 -2008Â». Lo rende noto la compagnia con un comunicato.
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MILAN Giancarlo Cimoli, chief executive of Alitalia, met Monday with unions representing its employees to find an accord on layoffs and restructuring that would save the Italian state-run airline.
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Alitalia meets unions today to reveal the number of job cuts it wants in a restructuring to avert collapse. Approval of the plan is crucial to the company&#39;s survival as it would allow Alitalia to access a