Alitalia Airline says workers reject rescue plan

An Alitalia crew member walks past Alitalia employees who take part in a strike at Fiumicino international airport in Rome

Alitalia workers have rejected a management restructuring plan to cut jobs and salaries, betting that the government will be asked to step in to save the loss-making Italian airline with an alternative plan.In the vote on Monday, nearly 90 percent of the airline's 12,500 employees had participated, with a clear majority of them opposed to management's proposals.

"The workers' anger won out", said Antonio Piras, general secretary of the Fit-Cisl union, explaining why two-thirds of workers had rejected a plan that had been agreed with unions.

They opposed a plan for 1,700 job losses and a eight per cent salary cut, despite the government saying over the weekend that there would be no alternative.

The Italian government could then appoint a commissioner to assess whether it can be overhauled or should be wound up.

Italy's national air carrier Alitalia is in the middle of an existential crisis after some 11,400 employees, or 90% of its total workforce, voted against a restructuring deal made by management and trade unions.

For decades, various industrial plans have failed to definitively relaunch Alitalia.

PPG Raises AkzoNobel Takeover Bid To $29B
PPG increased its cash-and-share bid to acquire Akzo Nobel to EUR96.75 (about $105.05) a share from EUR88.72. However, the tone of PPG's letter echoed some criticisms from shareholders who support the merger.

Italian daily La Stampa said on Tuesday that Etihad may try to sell its Alitalia stake to German flagship carrier Lufthansa (Xetra: LHAB.DE - news), but cited no sources.

Union leaders urged workers they described as understandably angry to vote yes.

Alitalia has been hit hard by competition from low-priced companies and has been accumulating losses for years.

Alitalia has called a shareholder meeting for Thursday to discuss the next steps, adding its flight operations would remain unchanged for now.

Before privatization in 2009, various governments disbursed 4 billion euros in cash to Alitalia, rarely requiring strong industrial strategies in return.

Alitalia was seeking worker backing to unlock fresh funds from shareholders and launch an ambitious restructuring plan, centred around a revamp of its business for short and medium-haul flights and additional long-haul routes.

Related News:

  • Waymo Testing Self-Driving Car Ride Service in Arizona

    Waymo Testing Self-Driving Car Ride Service in Arizona

    Uber's case so-far has been to argue that its Lidar design, nicknamed Fuji , is entirely different from Waymo's. Uber has hidden the code-named design from the court, according to the filing.
    France's mainstream politicians unite to back Macron over Le Pen

    France's mainstream politicians unite to back Macron over Le Pen

    Previously, Le Pen had stated that she is not a candidate of the National Front and the issues she stands behind are her own. Both Melenchon and Le Pen are nativist and anti-EU, one from the extreme right, the other from the far left.
    Advanced Micro Devices, Inc. (AMD) Under Analyst Spotlight

    Advanced Micro Devices, Inc. (AMD) Under Analyst Spotlight

    Following the transaction, the senior vice president now directly owns 340,334 shares in the company, valued at $4,781,692.70. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold.
  • Reds not going to blow top-four tilt: Klopp

    Reds not going to blow top-four tilt: Klopp

    But with both chasing clubs facing away derbies this week Can admits Manchester City, now one place below Liverpool in fourth, and second-placed Tottenham could do them huge favours.
    Miner Freeport's sales take hit from Indonesia export ban

    Miner Freeport's sales take hit from Indonesia export ban

    The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink . Following the transaction, the vice president now owns 64,896 shares in the company, valued at approximately $1,000,696.32.
    The French Election, Explained For Americans

    The French Election, Explained For Americans

    A defeat by Hamon could crush the party of unpopular Socialist President Francois Hollande, who chose not to seek a second term. She is the only one we haven't tried", 58-year-old truck driver Michel Cadour said in the central France village of Varzy.
  • Axalta Coating Systems Ltd (AXTA) Set to Announce Quarterly Earnings on Wednesday

    Axalta Coating Systems Ltd (AXTA) Set to Announce Quarterly Earnings on Wednesday

    Following the transaction, the senior vice president now owns 102,384 shares in the company, valued at approximately $2,764,368. TRADEMARK VIOLATION NOTICE: This news story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem.
    1 dead, 1 injured in small plane crash near airport in Meriden

    1 dead, 1 injured in small plane crash near airport in Meriden

    Joseph Tomanelli registered the plane, a 1971 Piper PA-28-180, in 2006, according to Federal Aviation Administration records. FAA spokesman Jim Peters said the aircraft was doing practice takeoffs and landings when the crash occurred about 6:30 p.m.
    DeRozan stars as Raptors level series, Hawks hammer Wizards

    DeRozan stars as Raptors level series, Hawks hammer Wizards

    The Raptors couldn't buy a basket in the opening frame, shooting 4-for-18 and 0-for-6 from three-point range. Toronto also started poorly from the 3-point line , missing its first six shots from behind the arc.
  • Kershaw fans season-high 10, Dodgers beat Rockies 4-2

    Kershaw fans season-high 10, Dodgers beat Rockies 4-2

    Charlie Blackmon led off the game with a walk, which was followed by back-to-back singles from DJ LeMahieu and Nolan Arenado . ET, ROOT (Colorado), SportsNet LA, KTLA (Los Angeles) PITCHING MATCHUP: Rockies LH Kyle Freeland (1-1, 5.91 ERA) vs.

    Serena Williams Won A Grand Slam While Pregnant, Twitter Is So Impressed

    Serena Williams has been championing the world tennis from 2002 and six years in total duration of her career. Williams is coming off of a January victory at the Australian Open , where she beat her sister in the final.
    Kejriwal Calls Exit Polls Fake, Threatens 'Movement' If BJP Wins MCD…

    Kejriwal Calls Exit Polls Fake, Threatens 'Movement' If BJP Wins MCD…

    The party didn't secure a single seat in the Goa assembly and managed to get only 20 seats in the 117-seat Punjab assembly. Lt Governor Anil Baijal, Kejriwal, Delhi Congress chief Ajay Maken and Delhi BJP leaders were among the early voters.


Most liked

Obama promotes listening skills in first public appearance after leaving office
More than five months after Clinton's loss, Obama is still not interested in taking center stage on politics, an adviser told CNN. Monday's event had a similar feel, though he was visibly looser than he was while serving as president.

Messi is not selfish - Conte shoots down Fabregas over Hazard advice
Chelsea prevailed against Spurs despite Conte surprisingly dropping playmaker Eden Hazard and Diego Costa to the bench. We have six games to go, and it's important we start this "rush" very well and try and get the points".

Canada Set to Legalize Recreational Marijuana in North American First
Even if he's not allowed to sell it, Panjwani is still optimistic he'll be able to thrive in the recreational marijuana industry. Goodale said Canadian tourists "should never lie" to border guards and suggested he had raised the issue with USA officials.

Funeral underway for Aaron Hernandez
His mother was seen out on the front lawn of the funeral home smoking a cigarette before going in to see her son and say goodbye. The judge said Early's office can redact information from the notes to protect the ongoing investigation.

U.N. Security Council must ready new sanctions on North Korea
The group says the area appears to be "primed and ready" to carry out what would be the country's sixth nuclear test since 2006. United States officials have refused to rule out imminent air strikes on North Korea.

Browns still searching for franchise QB
Though Graham is still looking for his first double-digit sack season, he does have 17½ in his last three seasons combined. It is an intangible that is hard to quantify. "Zach has to continue to grow like everyone does as a player", Roseman said.

CROP PROGRESS: Corn 17% planted, soybeans 6%
Nationally, farmers are estimated to plant almost 90 million acres of corn in 2017, which is down 4 percent from past year . The agency rated the state's winter wheat crop as 6 percent excellent, 45 percent good and 33 percent fair.

Dale Earnhardt Jr. retiring from NASCAR at end of 2017 season
Earnhardt is also co-owner of JR Motorsports, which fields entries in NASCAR's Xfinity Series and late model stock auto teams. Earnhardt underwent a strenuous rehabilitation program and was cleared to return to competition in early December.

Funeral Plans Announced in CT for Aaron Hernandez
He was serving a life sentence without the possibility of parole for the murder of Odin Lloyd, his fiancée's sister's boyfriend. Jenkins-Hernandez, the mother of Hernandez's daughter Avielle , 4, never Wednesday the athlete but took his last name.

China's Xi, in plea to Trump, urges caution in handling North Korea
Seoul's Defense Ministry has said the North appears ready to conduct such "strategic provocations" at any time. The White House said Mr Trump "emphasised that Pyongyang's actions are destabilising the Korean Peninsula".

NYC house fire kills 5, including 3 children
We were helpless, we couldn't do anything, but the FDNY did an awesome job because this was insane ", Rennie's cousin said. The person who fell from the window was a man who hit a porch roof, then landed on the lawn, Nigro said.

China calls for restraint as US carrier group heads for Korean waters
Envoys on the North Korean nuclear issue from the United States, South Korea and Japan are due to meet in Tokyo on Tuesday. Abe also said he and Trump agreed that China should play a large role in dealing with it.

Can: Liverpool must win last four games
Emre Can has rued Liverpool's loss to Crystal Palace on Sunday afternoon, with the midfielder labelling the defeat as "stupid". Aubameyang, 27, is ambitious and would be unlikely to consider a move to any side without Champions League football.

600-Year-Old White Oak Tree Being Cut Down In Basking Ridge
The 600 year old White Oak that stands in Bernard, New Jersey has died and is being cut down. Experts say fewer trees are replicating the old oak's (pictured) 600-year lifespan.

Corrected - Trump sets U.S. tax reform announcement, orders tax rule review
Mnuchin said border adjustment could hurt USA exports by driving the dollar higher, or fuel consumer inflation if the dollar does not rise.