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Alitalia in fly-or-die decision | Alitalia in fly-or-die decision |
(30 minutes later) | |
The board of the Italian airline Alitalia is meeting to decide whether to seek protection from its creditors. | The board of the Italian airline Alitalia is meeting to decide whether to seek protection from its creditors. |
A takeover by Air France-KLM broke down last week when Alitalia's unions could not reach agreement on the deal. | A takeover by Air France-KLM broke down last week when Alitalia's unions could not reach agreement on the deal. |
Air France-KLM's board has approved the decision to break off talks, but has asked the unions to reconsider. | Air France-KLM's board has approved the decision to break off talks, but has asked the unions to reconsider. |
The unions have said they are willing to re-open talks, but Italy's economics minister warned that they will need to make significant concessions. | The unions have said they are willing to re-open talks, but Italy's economics minister warned that they will need to make significant concessions. |
Elections due | |
Sources quoted by the Reuters agency have said that Alitalia has cancelled a meeting it was planning to hold with unions on Wednesday. | |
The government had previously warned that the only alternative to the Air France-KLM offer would be taking the airline into emergency administration. | The government had previously warned that the only alternative to the Air France-KLM offer would be taking the airline into emergency administration. |
But the government could be about to change, with parliamentary elections due to begin on 13 April. | But the government could be about to change, with parliamentary elections due to begin on 13 April. |
Silvio Berlusconi, who is currently leading in opinion polls, has said he would veto a deal with Air France-KLM and has called for Italian businessmen to come up with an alternative. | Silvio Berlusconi, who is currently leading in opinion polls, has said he would veto a deal with Air France-KLM and has called for Italian businessmen to come up with an alternative. |