Italy looks for rescue plan to save national airline Alitalia
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The Italian government scrapped the planned privatisation of loss-making national airline Alitalia on Wednesday and said it would look for other solutions to rescue the ailing carrier.
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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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Italy should hand loss-making national carrier Alitalia to anyone willing to take it off Rome&#39;s hands for one euro, or allow the airline to go bankrupt, Italy&#39;s infrastructure minister said.
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ROME  - Struggling Italian flagship carrier Alitalia held late-night talks Tuesday with the country's government and labour unions on how to help employees whose jobs will be slashed under a plan to save the airline, news reports said.
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State carrier Alitalia could be faced with collapse within 20 days without the approval of a restructuring plan that would allow the airline to tap into a loan of 400 million euros (&#36;488 million), the company's chairman was quoted as saying in Italian news reports Tuesday.
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Its future at stake, Italy's flagship air carrier Alitalia said it plans to cut 5,000 jobs--almost a fourth of its workforce--as part of restructuring efforts aimed at averting collapse.
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The boss of Italy&#39;s troubled Alitalia carrier wants to see the airline&#39;s state holding sold off by the end of the year, he said in an interview published Saturday.
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Alitalia stepped back from the brink of bankruptcy yesterday night as its board of directors approved a rescue plan that will allow the airline to tap into a â¬400 million ($486 million) emergency loan.
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MANAGEMENT at the Italian national airline Alitalia put forward a rescue plan today to trade unions that foresees slashing 5000 jobs and splitting the struggling carrier into two in order to keep it aloft.
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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 board of directors decided on Tuesday to postpone its choice between two rival bidders -- the Italian airline Air One or the European giant Air France-KLM -- to rescue the near-bankrupt national flag carrier.
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Alitalia SpA&#39;s board is likely to approve today Chief Executive Officer Giancarlo Cimoli&#39;s rescue plan for Italy&#39;s largest airline, after he won concessions from the carrier&#39;s nine major unions on job cuts.
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MILAN Alitalia&#39;s management and unions representing its cabin crews edged toward an accord Friday night on job cuts and working conditions in an effort to save the national carrier from collapse.
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The Italian carrier reaches agreement on cutting cabin crews, the final part of a rescue plan vital for survival.
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French and Italian leaders are to discuss the future of struggling airline Alitalia amid talk of an Air France merger.
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Alitalia SpA, Italy&#39;s largest airline, faces strikes and airport blockades should Chief Executive Giancarlo Cimoli seek bankruptcy protection for the carrier, cut thousands of jobs or break up the company, union officials said.
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The future of Italian flagship carrier Alitalia is at stake in a meeting with unions Monday to reveal the number of planned job cuts as part of a restructuring plan aimed at averting collapse.