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Air France-KLM is expected to formally submit a bid for struggling Alitalia, despite union resistance and an upcoming Italian election that could threaten the deal.... Link: url=http://edition.cnn.com/2008/BUSINESS/03/14/alitalia.sale.ap/index.html
The board of Alitalia has agreed to a buyout by Air France-KLM, a deal that still needs the approval of the Italian government. The problem is, the government is in limbo.... Link: url=http://edition.cnn.com/2008/BUSINESS/03/17/alitalia.bid/index.html
Talks between unions representing workers at Alitalia and Air France-KLM, which wants to buy the Italian airline, have faltered over proposed job cuts.... Link: url=http://news.bbc.co.uk/2/hi/business/7304185.stm
Former Italian Prime Minister Silvio Berlusconi said he would block Air France-KLM Group's bid for Alitalia SpA if he's elected premier next month and that he would announce a counteroffer by Italian investors ``in a few days.''... Link: url=http://www.bloomberg.com/apps/news?pid=20601085&sid=aFnM8rZa1YV8&refer=europe
I hear today, that AF/KLM have pulled out of talks, thanks to the Unions demands.
Accordingly, Alitalia has with immediate effect, cut 2/3rds of its flights from Milan M!
A source withion the EU Commission teels me, it has aabout 3 weeks before it will be bankrupted! Its losing over 1Million Euros a day.
Perhaps when the employees realise this was their only chance, they will regret holding themselves through their Unions, in that very out of date Italian way...bit like Alitalia. Surely, to have accepted in a crisis an alternative, was better than no alternative at all?
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