AIRLINE: It appears that the Italians strike almost as much as the French do. The French now have KLM. The Italians have little or nothing to show for it. -- Mike Burris --- Bill Hough <psa188@xxxxxxxx> wrote: > =20 > ---------------------------------------------------------------------- > This article was sent to you by someone who found it > on SFGate. > The original article can be found on SFGate.com > here: > http://www.sfgate.com/cgi-bin/article.cgi?file=3D/n/a/2005/03/17/financial/= > f071135S71.DTL > > --------------------------------------------------------------------- > Thursday, March 17, 2005 (AP) > Alitalia Warns Strike Could Bankrupt Co. > > > > (03-17) 07:11 PST ROME, Italy (AP) -- > > Italian airline Alitalia SpA said Thursday that > the latest strike by > flight attendants could plunge the struggling > carrier into bankruptcy. > > "Around this time last year, Alitalia was close > to bankruptcy," the > state-controlled airline said in a paid statement > published in four > newspapers. > > Wednesday's strike, which forced the airline to > cancel at least 118 > flights, "risks plunging the company into crisis > once again," it said. > > The company is seeking to attract new private > investors for a capital > increase of 1.2 billion euros ($1.6 billion) later > this year. Before it > does so, the European Union is making sure its > latest rescue plan doesn't > contain state aid. > > The flights canceled Wednesday involved travel to > and from Rome's Leonar= > do > da Vinci airport and Milan's Malpensa airport. > > The 24-hour strike was called by the flight > attendants union SULT to pre= > ss > for contract renewal. Workers have been worried > about the airline's > restructuring plans, which include cutting some > 3,700 jobs and separating > its ground-service operations from its flight > business. > > This week's strike was the third since February > by SULT. It angered many > passengers, some of whom arrived at the airports > unaware of the stoppage. > > "It would be a paradox if we were to be defeated > not because of external > difficulties ... but due to the foolishness of a > few," Alitalia said in > its ads. > > Alitalia has estimated its 2004 losses at 850 > million euros ($1.14 > billion) ? nearly as big as its current market > capitalization. The > carrier reported a net loss of euro517 million euros > ($694 million) for > 2003 and has posted an annual profit only four times > in the past 16 years. > > > ---------------------------------------------------------------------- > Copyright 2005 AP >