Alitalia Takeover Awaits Approval from Government Amid Strike Chaos

Alitalia has decided to cancel 100 flights per day for the rest of November because of ongoing strikes from pilots and cabin crew members. The crews are trying to prevent the takeover, which they argue will corrode their union rights. However, in spite of the second week of strike action, which has caused chaos to flights, the proposed takeover by the CAI consortium is going ahead.

Last week, CAI overcame a key hurdle, gaining approval from the European Commission for the €375 million takeover, while the bankruptcy commissioner of the carrier is anticipated to approve it this week. The commissioner has to make sure that the offer from CAI is not sold for less than its market value. However, since there aren’t any other bidders and the cash reserves are dwindling quickly, he has hinted that the offer is going to be accepted.

Augusto Fantozzi, the bankruptcy commissioner, said that they will wrap the deal up this week, and he hopes that there will only be pleasant surprises. He already has confirmation from the surveillance committee, so he is now waiting for word from the minister. By the middle of this week, he added, there is going to be serenity.

Meanwhile, Prime Minister Silvio Berlusconi made a announcement on Tuesday night that that he and German Chancellor Angela Merkel are favoring a possible alliance between the airline and Lufthansa. Berlusconi spoke at a news conference, saying that they are in agreement about looking at the potential of an alliance for the two airlines and that they hope it will happen.

Learn more about the carrier by visiting www.alitalia.com