Word: klm
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...series of bailouts that have drawn the ire of European Union competition regulators. In December 2006, then Prime Minister Romano Prodi put the government's 49.9% share of Alitalia on the selling block. Several potential buyers pulled out, and a takeover bid by Air France-KLM was blocked by the unions and the open disdain of then opposition leader Silvio Berlusconi...
Berlusconi could be pulled towards the right by his biggest ally, the anti-immigrant Northern League party, which garnered an impressive 8% to 9% of the vote, as of late polling Monday. The most immediate outcome of the vote may be to scuttle negotiations for Air France-KLM to takeover ailing national carrier Alitalia, which both Berlusconi and the Northern League had openly opposed...
...breakdown of negotiations for Air France-KLM to buy Alitalia has left the Italian airline closer than ever to bankruptcy. On Thursday evening, the Milan stock exchange announced that Alitalia shares will be suspended until April 8, following the public company's next board meeting. The failure of talks with Air France, also prompted yet another resignation at the top, as Alitalia chairman Maurizio Prato stepped down just seven months after taking over the troubled air carrier with the goal of facilitating its sale. Now, nothing is likely to move until after Italy's April 13-14 national elections...
...French-Dutch Air France-KLM was the only bidder left in an auction that began 15 months ago when Italy's Economy Ministry put its 49.9% of the debt-saddled company on the auction block. Air France Chairman Jean-Cyril Spinetta pulled out after Alitalia union representatives arrived at the table with brand new 11th hour terms after all sides had worked for weeks on a standing framework that included layoffs of around 2,100 and the closing of Alitalia's cargo division. The talks, of course, collapsed...
...been busy trying to fend off - and recover from - a half-dozen near-crises since taking office 20 months ago, rather than focus on much-needed reforms to the pension and justice systems. Meanwhile, state air carrier Alitalia bleeds money, and its hoped-for merger with Air France-KLM may now be put back on hold as the political class focuses on fighting among itself...