Alitalia Bankruptcy: Italian Govt in Crisis

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In summary, the Italian airline Alitalia canceled 40 flights after a small union called a four-hour strike against a rescue plan. Hundreds of workers protested at Rome's main airport. The airline is fighting for its survival as unions balk at accepting terms of the rescue plan by potential investors, including longer hours, layoffs and reductions in routes and in the number of aircraft. If the Italian government worried everytime a major industry went bust or dissolved in a scandal it would never get anything done!
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wolram
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http://canadianpress.google.com/article/ALeqM5hiS01TQeSzfxEsuoijIuUCZF-RMw

ROME — Bankrupt Alitalia canceled 40 flights Wednesday after a small union called a four-hour strike against a rescue plan, as hundreds of workers protested at Rome's main airport. The Italian airline is fighting for its survival as unions balk at accepting terms of the rescue plan by potential investors, including longer hours, layoffs and reductions in routes and in the number of aircraft.

This sure must be a worry for the Italian government.
 
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  • #2
wolram said:
http://canadianpress.google.com/article/ALeqM5hiS01TQeSzfxEsuoijIuUCZF-RMw

ROME — Bankrupt Alitalia canceled 40 flights Wednesday after a small union called a four-hour strike against a rescue plan, as hundreds of workers protested at Rome's main airport. The Italian airline is fighting for its survival as unions balk at accepting terms of the rescue plan by potential investors, including longer hours, layoffs and reductions in routes and in the number of aircraft.

This sure must be a worry for the Italian government.
Italy has more assinine strikes than any other country I am aware of. When I dated a guy there it seems there were constant train strikes, trucking strikes where they would block public roads, it seemed that there was always someone striking.
 
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  • #3
wolram said:
This sure must be a worry for the... you could fly Singapore airlines from LA-NY!
 

1. What is Alitalia bankruptcy and why is it in the news?

Alitalia is the national airline of Italy and has been struggling financially for years. The company filed for bankruptcy in May 2017 and has since been under special administration. The news surrounding Alitalia's bankruptcy is due to the ongoing negotiations between the Italian government and potential buyers to save the airline.

2. How did Alitalia get into financial trouble?

Alitalia has been struggling financially for a long time due to a combination of factors such as high operating costs, competition from low-cost carriers, and ineffective management. The airline was also hit hard by the COVID-19 pandemic, which severely impacted the global travel industry.

3. What does the Italian government's involvement in Alitalia's bankruptcy mean?

The Italian government has a 15% stake in Alitalia and has been involved in the negotiations to find a buyer for the airline. The government's involvement is crucial as they have to approve any potential deal and provide financial support to keep the airline running until a buyer is found.

4. Has Alitalia's bankruptcy affected its operations?

Yes, Alitalia's bankruptcy has had a significant impact on its operations. The airline has reduced its flight routes and grounded many of its planes as a cost-cutting measure. It has also faced strikes from its employees due to job security concerns.

5. What is the future of Alitalia?

The future of Alitalia is uncertain as negotiations with potential buyers continue. The Italian government has set a deadline of October 15, 2021, to find a buyer for the airline. If a deal is not reached, Alitalia may be liquidated, and its assets sold off. However, the government has stated that they are committed to finding a solution to save the airline and maintain its national carrier status.

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