Alitalia taken over by consortium
13-12-2008
Alitalia, Italy's troubled national flag-carrier, has been taken over by the Italian Air Company (CAI), a consortium of investors. Under the deal, Alitalia will retain its name but around 5,000 jobs are expected to be lost. Alitalia filed for bankruptcy in August, weighed down by high labour costs, strikes, surging oil prices and political interference.
