Alitalia (2nd) (Rome) is facing a major decision today at its board meeting. According to this report by Reuters, Alitalia’s CEO Gabriele del Torchio, a turnaround specialist, is expected to unveil his plan. The drastic measures may include up to 2,000 job cuts and salary cuts.
However the cuts are unlikely to persuade major shareholder and board member Air France-KLM to put any more capital into the failing flag carrier. Alitalia needs a $400 million infusion to keep flying. The group has already zeroed-out its investment.
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Copyright Photo: Dave Glendinning/AirlinersGallery.com. Alitalia’s Embraer ERJ 190-100LR EI-RNB (msn 19000479) taxies at London (Heathrow).