Threatened airline may be rescued after all

29/09/2008

Beleaguered Italian carrier Alitalia has been given a further lifeline, it has emerged.

The airline, which faced collapse last week as a proposed takeover was abandoned amid union difficulties, may yet be taken over.

According to the BBC, the CAI consortium has reached an agreement with the last union which blocked proposed cost-cutting measures in the initial bid.

While the unions have not yet agreed to the terms of the £800 million takeover, CAI is said to have won their approval.

"We'll make a decision based on industrial logic between Air France and Lufthansa," chief executive Rocco Sabelli told the Times, referring to their revised decision to partner another airline in operating Alitalia in the future.

"What's certain is that control will remain in Italian hands and the partner will have a minority stake," he added.

A provisional date of November 1st has been mentioned for the re-start of the airlines services, although as yet nothing has been confirmed.

Alitalia currently flies to a number of larger and regional airports in the UK, including Humberside, Bristol and Cardiff.