28 APRIL 2014
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2020 Business Travel News Ltd.
Whilst there is still no firm news on the potential investment by Etihad Airways into Alitalia the project is far from dead with a go-ahead possible at any time.
Loss-making Alitalia was kept afloat by a government-engineered €500m rescue package last year but needs to find a cash-rich partner quickly to revamp its flight network or risk having to ground its planes.
Abu Dhabi-based Etihad has been looking at Alitalia's books for a possible investment since early this year, but the prospect of heavy job cuts at Alitalia and its debts have been major hurdles in the talks and Etihad's stance appears to have hardened in recent weeks.
Any large job cuts are likely to stir opposition from Italy's powerful unions. However, the head of the UIL, one of the main Alitalia unions, said his group is prepared to negotiate.
"We are willing to do our part to get to an agreement," UIL's Luigi Angeletti said in an interview with RaiNews24. After speaking to Alitalia's CEO, Angeletti confirmed that staff costs and the airline's debt were the main stumbling blocks in the talks. www.etihad.com www.alitalia.com
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?