Alitalia Will Fold
 

Last ditch effort was not accepted by all nine of the Alitalia unions and CAI group of investors have pulled their offer.

http://www.bloomberg.com/apps/news?pid= ... fer=europe

Here are some working url's of the story and updates:

Alitalia Bidding Group CAI Drops Buyout Offer, Radiocor Says:
http://www.bloomberg.com/apps/news?p...d=agabxLFN1QZQ

Alitalia Bidders Drop Offer After Union Opposition (Update2)
http://www.bloomberg.com/apps/news?p...d=aQ8FSjtMMrU4

Alitalia seems doomed after consortium pulls out of deal
http://afp.google.com/article/ALeqM5...Z5g_3ayxtiLEWA

Well, not sure if anyone's noticed but the pope does kiss the ground everytime he gets off one......:D

He didn't at Richmond.

Watching the debates on Italian TV, I got the conclusion that Aliatalia workers just want things to get back to normal, Govt to keep pumping money into the business and life goes on , however this is a perfect example of letting a business go broke and rebuild it in one way more efficient and with less unionised labour which is the main reason of it losing 1MILL Euros a day.

Looks like Alitalia has been saved CAI offer was put back on the table and all nine unions have now accepted the offer.

Will result in about 3000 job losses, longer hours for the same pay.

http://www.bloomberg.com/apps/news?p...4&refer=europe