Alitalia
Written on September 18, 2008
Italy’s labor minister said on Thursday that the liquidation of Alitalia was a “very real risk” later in the day when an investor group offering to rescue the state-controlled airline was due to make its final decision.
“I really think the future of Alitalia is hanging by a thread,” Minister Maurizio Sacconi said on a morning talk show.
With Alitalia in special administration and running out of cash to buy fuel, the risk that the airline that was once the flyer of popes and divas had only days or even hours of life left seemed more palpable than ever.
“There is no room for negotiations left … liquidation is a very real risk,” a pessimistic-sounding Sacconi said.
CAI, the group of Italian businessmen headed by chairman Roberto Colaninno, has threatened to withdraw if its proposal does not get union approval.
Colaninno has said he had no further concessions to make and nothing left to discuss.
Unions have been told they have until 3.50 p.m faxless payday loans. (9:50 a.m. EDT) on Thursday to give their final position. The CAI board meeting starts at 4 p.m. (10 a.m. EDT).
After days of tense negotiations with workers, Colaninno told unions he would propose withdrawing the offer at the meeting if they do not come on board by then.
Filed in: money.