State to bail out Alitalia after float flops

The Italian government announced last week that it would take a more active role in the management of crisis-hit airline Alitalia to help save it from insolvency, despite partially privatising the carrier less than one year ago.

30th September, 2006

The Italian government announced last week that it would take a more active role in the management of crisis-hit airline Alitalia to help save it from insolvency, despite partially privatising the carrier less than one year ago.

The airline’s chief executive Giancarlo Cimoli, appointed in 2004to lead Alitalia to a profitable future in the private sector, may also be fired after four government ministers, under pressure from union bosses, called for his head. Alitalia’s plight...

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