Alitalia - Bankruptcy Avoided in Eleventh Hour
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Alitalia - Bankruptcy Avoided in Eleventh Hour
It appears that Alitalia, which has been struggling financially for quite a while, has been given a reprieve....again
The article roughly translated....
Italiaanse luchtvaartmaatschappij ontsnapt aan faillissement - HLN.be
The article roughly translated....
It seems that the ailing Italian airline Alitalia today again narrowly escaped bankruptcy. Unions and management reached an agreement at the last minute which would pave the way for a recapitalization of the company. To make the deal into effect, it requires the approval of the staff.
Alitalia has been unprofitable since 2002 and was the last decade, three times on the verge of bankruptcy. According to a study of "Mediobanca" the efforts to keep the airline afloat Italian taxpayer cost between 1974 and 2014 certainly 7.4 billion.
Last night an agreement was achieved through government intervention. The unions oppose no longer at an average pay cut for employees and the dismissal of 980 full-time employees. Alitalia had initially indicated that it wanted to reduce wages by up to 30 percent and would lay off about 2,000 of the 12,500 employees. "This is the best possible solution given the crisis in which the company is located," Industry Minister Carlo Calenda told the public radio station RAI.
Alitalia has been unprofitable since 2002 and was the last decade, three times on the verge of bankruptcy. According to a study of "Mediobanca" the efforts to keep the airline afloat Italian taxpayer cost between 1974 and 2014 certainly 7.4 billion.
Last night an agreement was achieved through government intervention. The unions oppose no longer at an average pay cut for employees and the dismissal of 980 full-time employees. Alitalia had initially indicated that it wanted to reduce wages by up to 30 percent and would lay off about 2,000 of the 12,500 employees. "This is the best possible solution given the crisis in which the company is located," Industry Minister Carlo Calenda told the public radio station RAI.
