24 September 2008

Adverts looking for Alitalia buyer appear in FT

Administrators for Alitalia have placed advertisements in the Financial Times and in three Italian newspapers to find a buyer to rescue the debt-ridden airline.

The company, Augusto Fantozzi, appealed to potential buyers, who might be able to guarantee the medium-term continuity of the airline, to apply by September 30.

The move comes after six out of the nine unions representing the airlineââ¬â¢s workforce opposed a bid by Italian consortium CAI, objecting to plans to cut 3,000 jobs.

Italy's civil aviation authority ENAC has warned it will withdraw Alitalia's operating licence this week if it does not present it with a cost-saving strategy.


By Bev Fearis

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