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Alitalia sale saga continues
Alitalia sale saga continues27-Mar-2008 |
Airline Code [AZA]
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Tags :Continental Europe, Alitalia The ongoing saga of the sale of 49.9% of Alitalia continues, with no end in sight. With Air France-KLM having apparently concluded its negotiations successfully on 16-Mar-08, and the outgoing Italian government having approved it a day later, a number of factors have since arisen to stall the transaction. These include continuing objections by the trade unions, the re-emergence of Air One as a potential bidder, and the declaration by Italy’s opposition leader, Silvio Berlusconi, that he would block the deal in favour of a bid by an Italian consortium backed by, Intesa Sanpaulo SpA, bank if he were to be elected Prime Minister in the upcoming election.
Air France-KLM has responded by promising a revised plan for cutting jobs at Alitalia, its first concession with the unions, and offered to continue talks beyond a 31-Mar-08 deadline it had previously imposed. |
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