Air Transport World

AZ has enough cash for 'short term'.(News Briefs)(Linee Aeree Italiane S.p.A. acquisition talks with Air France S.A.)(Brief article)

The fate of Alitalia remained uncertain at press time following the collapse last month of acquisition talks with Air France-KLM that had the support of the AZ board. In early April, Alitalia disclosed it had [euro]170 million ($267.4 million) in cash and short-term financial credits. It said it could continue operations in the "short term" but reiterated the need for "substantial financial support."

AF-KLM withdrew its proposal in the face of broad union opposition to plans to reduce AZ's workforce by 1,600 employees, with a further 500 jobs to be lost at AZ Servizi, the ground handling company. …

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